Sunra, one of the largest ELectric Vehicle (EV) company in China wants to set up a plant in India to manufacture its electric bikes.China's leading electric-vehicle maker - Sunra - setting up plant in India #MakeinIndia @NarendraModi Click To Tweet
The firm, which exports e-bikes and its spares to some 70 countries, including India, says it is upbeat about investing in the country, especially in light of Prime Minister Narendra Modi’s policies for the EV sector and invitation to companies to manufacture e-vehicles in India.
China is emerging as the leader in both manufacturing and demand for electric vehicles. In just 2017, 777000 EVs were sold in China (up from 507,000 in 2016).
The Modi government is betting big on EVs and it has launched the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme.
the second phase of Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme is finally being rolled out with an outlay of $776.5 Mn (INR 5,500 Cr).
Prime Minister Narendra Modi is said to unveil the FAME II scheme at the inaugural session of the ‘MOVE’ — a global mobility summit to be organised here on 7-8 September — in the presence of several global CEOs from the automotive sector.
The development comes after an inter-ministerial panel — comprising ministries of road transport and highways, finance, power, heavy industries, including government think-tank Niti Aayog — met on August 23 and confirmed subsidies under FAME II for all categories of electric vehicles (EVs), including cars. (Source – Inc42)
Government is hoping that as the adoption and use of EVs rises, the emissions will come down by 37%.
Get Drishtikone Updates
in your inbox
Subscribe to Drishtikone updates and get interesting stuff and updates to your email inbox.
Thank you for subscribing.
Something went wrong.