New Delhi - Prime Minister Narendra Modi on Sunday said India aims to be self-reliant in the energy sector in the next 25 years and electric vehicle, which is leading a “silent revolution”, has a key role to play in achieving it.
With a major part of energy consumption being in the transport sector, the prime minister said innovation in this sector should be a priority. "It is our goal that India becomes Aatmanirbhar for its energy needs in the next 25 years" Modi said while addressing a programme held to mark 40 years of Suzuki Motor Corporation in India at the Mahatma Mandir convention centre here.
He further said, “As a major part of energy consumption is in the transport sector, innovation and (research) efforts in this sector should be our priority. I am confident we will be able to achieve this.” Modi, who also laid the foundation stone of Suzuki Motor Gujarat’s new EV battery plant and Maruti Suzuki’s new plant at Sonipat, in Haryana, stressed the importance of promoting EVs in the country.
One of the great features of EVs, is that they are silent, be it two-wheeler or four-wheeler, they don’t make any noise, he said. This silence is not only about its engineering, but it is also the beginning of a silent revolution in the country,” Modi said, adding the EV market in India at present is growing at such a rapid pace which could not have been imagined a few years back.
In March this year, Suzuki Motor Corporation announced plans to invest around 150 billion yen (about Rs 10,440 crore) by 2026, for local manufacturing of Battery Electric Vehicles (BEV) and BEV batteries in Gujarat. The company had signed an MoU with the state government under which the company’s wholly-owned arm Suzuki Motor Gujarat (SMG) will invest Rs 7,300 crore for the construction of a plant for BEV batteries on land neighbouring SMG’s existing plant by 2026.
SMG will also invest another Rs 3,100 crore for increasing production capacity for BEV manufacturing by 2025.
In May this year, Maruti Suzuki India (MSI) announced an investment of Rs 11,000 crore in the first phase of a new facility to be set up at Sonipat in Haryana. The new plant’s first phase with a manufacturing capacity of 2.5 lakh units per annum is expected to be commissioned by 2025.
Source-Money control/ Financial express