Stable electric policy will be unveiled soon : PM Modi

Prime Minister Narendra Modi on Friday said a stable policy-regime around electric and other alternative fuel vehicles will be unveiled soon as he pitched for investments in manufacturing of green vehicles and charging facilities.

“We will soon put in place a stable policy-regime around electric and other alternative fuel vehicles. Policies will be designed as a win-win for all, and enable huge opportunities in the automotive sector,” he said addressing the Global Mobility Summit 'MOVE' here.

Asserting that mobility powered by clean energy is the most powerful weapon in the fight against climate change, he said the focus must go beyond cars to other vehicles such as scooters and rickshaws.

"Congestion-free mobility is critical to check the economic and environmental costs of congestion," he said in the event which was attended by top executives of global auto giants including Suzuki and Toyota.

Noting that mobility is a key driver of the economy, the Prime Minister said better mobility reduces the burden of travel and transportation and can boost economic growth.

"It is already a major employer and can create the next generation of jobs," he said adding that the government is keen on "investments across the value chain from batteries to smart charging to electric vehicle manufacturing".

Common public transport must be the cornerstone of mobility initiatives, Modi said, adding that "clean mobility powered by clean energy is our most powerful weapon in our fight against climate change".

The government is targeting electric vehicles to account for 15 per cent of all vehicles sales in five years in a bid to curb greenhouse gas emissions and reduce dependency on fossil fuels. An estimated 2,000 electric vehicles were sold last year.

It must be ensured that public transport is preferred to private modes of travel as it would result in fewer traffic jams and lower levels of stress for commuters, Modi said.

"We should champion the idea of 'clean kilometres'," he said.

According to him, Indian entrepreneurs and manufacturers are now poised to develop and deploy break-through battery technology that would mean a pollution-free clean drive, leading to clean air and better living standards for people.