Volkswagen sold more vehicles than any other carmaker in the world last year
The company needs to transform itself to be relevant in the world of future mobility, Chandrasekaran said
While fuel and gold are set to get more expensive, the Budget proposes tax sops on affordable housing and electric vehicle loans
Despite the challenges, the Survey noted that electric vehicles will be the future in India
Firms like SmartE or Bengaluru-based Lithium Urban Technologies, giants like Ola that helps e-commerce companies deliver products, are playing a key role in kicking up sales of electric vehicles
These start-ups are collectively putting in over $500 million to design and make electric two-wheelers and create the charging infrastructure to make EVs a reality
Audi's e-tron will be the first of 12 electric vehicles to enter domestic market; company plans to ship 200 CBU cars
Flipkart is also setting up necessary charging infrastructure at its hubs in order to deploy EVs at large scale
The govt is also examining extension of tax holiday for units operating or planning to set up operations in special economic zones
Delhi govt believes electric vehicles are the future and it's time to bring this future into the present, Gahlot said
Chandrasekaran said the demand for EVs needs to be created with the right incentives
EV move will backfire if the industry doesn't get transition time
Earlier major Indian automakers Hero MotoCorp, Bajaj Auto and TVS Motor Co opposed the NITI proposal
Bajaj Auto Managing Director Rajiv Bajaj said "we believe 100 per cent transition is completely uncalled for"
Companies such as Bajaj Auto and TVS Motor have objected to banning two- and three-wheelers and asked for at least four months to come up with a comprehensive plan
NITI Aayog officials met with executives from companies including Bajaj Auto, Hero MotoCorp and TVS late on Friday
The start-ups said unless India had size and scale in EVs, it would miss the worldwide e-mobility revolution
The move, aimed at promoting electric vehicles (EVs) in India, comes at a time when the country plans high penetration of such vehicles by 2030
India is the world's largest market for two- and three-wheelers. It sold 21,181,390 units of two-wheelers and 701,011 units of three-wheelers in the year that ended in March 2019
Battery-making was seen a key pre-condition to develop the ecosystem around EVs, as the battery accounts for almost half the EV cost, which can be brought down if batteries are made locally