Union Minister for Road Transport and Highways, Nitin Gadkari, announced on Tuesday that India will soon be in a position to export lithium-ion batteries. Speaking at the 64th annual convention of the Society of Indian Automobile Manufacturers (SIAM) in New Delhi, Gadkari expressed confidence in India’s growing capability to manufacture and export these batteries worldwide.
“I’m confident that soon we’ll be exporting lithium-ion batteries to different parts of the world. Research is ongoing into various chemistries, including aluminium and ironic oil, which I believe will also create a substantial market,” Gadkari said.
“The good thing is that lithium-ion manufacturing is now Adani, Tata, Maruti, LG, and Samsung. They are all coming in this business. Because…Take the example of semiconductors the government adopted is such a good policy because of that after 2 three years we will be the number one in the manufacturing of the semiconductors in the world,” he added.
Gadkari also projected significant growth in India’s electric vehicle (EV) market, which is expected to reach one crore units in annual sales by 2030, creating five crore jobs. The EV market is poised to become a Rs 20 lakh crore industry by 2030.
He urged the automobile industry to focus on improving quality, design, and technology to remain competitive and boost exports, as consumers are becoming increasingly conscious of product quality. Gadkari also announced the establishment of a world-class testing agency in Pune for better research and vehicle testing. The CIIT Training Institute, with an investment of Rs 450 crore, is set to open within the next three months.
Additionally, Gadkari sought the automobile industry’s support for India’s scrappage policy, calling on manufacturers to provide better incentives for scrapping old vehicles. He pointed out that vehicle manufacturers in the USA and Europe have seen a 9-12% increase in sales by promoting scrappage policies.
He also thanked the industry for its decision to offer a 3% discount for vehicle owners scrapping their old cars, which could lead to a reduction in component costs by 20-40%. Gadkari encouraged manufacturers to establish their own scrappage centres.
In his remarks, Gadkari said, “The automobile industry plays a pivotal role in realizing the Prime Minister’s vision of transforming India into a 5 trillion-dollar economy and elevating it to the third largest economy globally. Our ambition is to extend it as the number one auto manufacturing industry worldwide. As we target a carbon-neutral status by 2070, innovation and sustainable practices in the auto sector are crucial.”
(ANI)