LONDON, March 25, 2015 /PRNewswire/ -- GOVERNMENT POLICIES & INITIATIVES
-Evolution of Electric Vehicle Initiatives
MNRE has always been involved in formulating policies for promoting Electric Vehicles. However, NCEM would define the initiatives for electric vehicles in future
-Proposed Framework for EV Initiatives
MNRE drives the program AFSTP while DHI is the nodal authority for the ministerial body NCEM
-Key Ministries for Electric Vehicles
MNRE, DHI and MoUD are the main ministries involved in policy formulation for electric vehicles and will facilitate manufacturers in entering the Indian market
-Role of Key Bodies in EV Value Chain
Financial support in form of subsidies, loans and duty exemption is provided across the value chain
-Strategic Assessment of AFSTP
AFSTP aims to provide subsidies and financial assistance for manufacturers of EVsC
-Strategic Assessment of NCEM
NCEM was formulated to consolidate all efforts for Electric Vehicles under a common platform
-Budgetary Incentives
The government has introduced several exemptions for hybrids and electric components which would facilitate manufacturing efforts for EVs
MARKET OVERVIEW
-Market Construct: Current
The market for electric vehicles in India is at a nascent stage presently
-Current Competitive Scenario
Reva and Toyota are currently the only players in electric and hybrid cars segment; Mahindra, Bajaj and Scooters India ventured in electric three wheelers but were not very successful
-Market SWOT
Low running costs are the USP of electric vehicles and some emerging customer segments represent a promising market
-Market Construct: Future
The market is expected to grow at CAGR (volume)of 150% for cars and 180% for three wheelers
-Future Competitive Scenario
Many OEMs are expected to enter the EV market beginning 2016
-Smart-Cities' Development
Four futuristic smart cities are being planned in the Delhi Mumbai Industrial Corridor
The government is planning to set up smart cities along the Dedicated Freight Corridor between Delhi and
Mumbai
At present four cities namely Manesar, Changodar, Dahej and Shendra are being set up under the pilot
project
These cities are inspired by successful Japanese smart cities of Kitakyushu, Toyota City and Yokohoma and
would be built on a similar model
They are expected to have world-class, self-sustainable habitats with minimal pollution levels, optimized energy supplies and efficient public transportation
Electric vehicles would be planned extensively for these cities. Also two level III charging stations are being planned in each smart city
The project would be implemented through public private partnership. Japanese Corporations such as
Hitachi, Mitsubishi, JGC Corp and Toshiba are expected to design and build these cities
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