Business Standard

Bring EV financing under priority sector lending: Industry body

Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget for FY 2022-2023 on February 1

electric vehicles, Budget 2022, EV financing, PLI scheme, EV batteries, automobile, SMEV, Advanced Chemistry Cell, crude oil
Premium

The PLI scheme for Advanced Chemistry Cell (ACC) can be suitably amended to incentivise the R&D efforts

Press Trust of India New Delhi
Electric vehicles must be considered for priority lending by the government to accelerate their adoption, while sufficient funds must also be allocated for R&D in a public-private partnership mode for development of batteries, industry body SMEV said on Thursday.

In its Budget wish list, the Society Of Manufacturers Of Electric Vehicles (SMEV) also said there is a need to amend the PLI scheme for automobile and auto components, as in its current form there is an "unfair price disadvantage" for small and medium-size EV players in the industry.

"To create a robust ecosystem for electric vehicles and give a boost to the

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 21 2022 | 1:41 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com