As the Government gets ready to present the Budget, Sulajja Firodia Motwani, Founder and CEO of Kinetic Green, has emphasised the need for substantial measures to meet the ambitious target of increasing electric vehicle (EV) penetration from the current 6 per cent to 30 per cent by 2030. Over the past five years, government support has been pivotal in kick-starting the EV revolution, but continued and enhanced efforts are essential for sustained growth, she asserted.

Motwani is awaiting the announcement of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) 3 scheme in the upcoming Budget, as the current scheme is set to conclude on July 31. She stressed the importance of a clear roadmap for the next three to five years to maintain investment momentum and accelerate EV adoption.

“We urgently call for the continuation of the FAME scheme. This continuity is crucial for sustaining the momentum of investments and efforts towards EV adoption,” she said.

Charging infra

Motwani also highlighted the necessity of developing charging infrastructure in key corridors of 10-15 major cities and surrounding highways. “Support for charging infrastructure will be pivotal in promoting the use of electric four-wheelers (e4W) and commercial vehicles (CVs) across India,” she added.

Additionally, the EV sector is seeking reduction of GST on lithium-ion batteries from 18 per cent to 5 per cent and on EV charging services to 5 per cent. “These changes will significantly enhance the affordability and overall ownership experience of EVs for customers,” Motwani said.

Motwani believes that the combined impact of these measures will be instrumental in achieving the government’s 2030 EV target of 30 per cent penetration and creating a sustainable EV ecosystem in India.