Govt aims to make India a global hub for manufacturing of electric vehicle by 2030

The government wants to turn India into a global hub for the manufacture of electric vehicles by the turn of this decade. The government is looking to attract investments worth Rs 45,000 crores.

In a bid to take advantage of the Central government's production linked incentive (PLI) scheme, top conglomerates including Adani Group, Tata Chemicals, Larsen and Toubro Ltd (L&T), and a joint venture led by Japan's Suzuki Motor Corp. have shown interest in making lithium-ion cell manufacturing plants in India.

"Some of these companies also plan to engineer a shift towards renewable energy and reduce dependence on traditional energy businesses. Hence, manufacturing lithium cells gives them an opportunity to take a step forward in that direction and with 50% of new vehicle sales expected to turn electric in the next 10-15 years, globally, there will be demand, and huge capacities will be required," one of the sources said.

A BHEL spokesperson revealed that the company is exploring the government's PLI scheme and is also looking to partner with leading global companies for setting up one such factory under the government's programme and leverage its engineering and manufacturing experience.