India's electric vehicle market by 2030 to reach Rs. 16 lakh crore will reach

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Ahmedabad: The electric vehicle industry in India has seen many ups and downs in the last few years but now it is moving at full speed. However, concerns about raising funds, consumer reluctance towards new technologies and subsidies still loom over the sector.

Union Road Transport and Highways Minister Nitin Gadkari, while discussing the upcoming roadmap of the electric vehicle sector at an event, said that India has multiple opportunities for this sector. We also believe with Niti Aayog that the EV market can reach 16 lakh crore rupees by 2030.

Our automobile sector was number four, overtaking Japan a month ago and is now third. China is at the top, America is second and India is third.

India's EV market is expected to grow to 1 crore vehicles annually by 2030 and create 5 crore direct and indirect jobs but we are also working on flex fuel vehicles. We have recently started a pilot project to blend 20 per cent methanol in diesel in Bengaluru,” Gadkari added. After reaching a certain level, the focus on exports will have to increase.

We have a lot of potential here for electric buses. I think 60 percent of buses will be electric in just five years. Currently this figure is only 1 percent. Ashok Leyland and Tata also have buses and trucks with diesel engines that can use hydrogen.

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