NIFTY 50

Manufacture electric vehicles or lose market share: Amitabh Kant to Motown

Updated : November 12, 2019 10:36 PM IST

Niti Aayog, the government's think-tank, on Tuesday asked automobile companies to manufacture electric vehicles or lose market share in the near future.

In an interview to CNBC-TV18's Parikshit Luthra, Amitabh Kant, chief executive officer, promised to remove impediments for two-wheelers in government's Faster Adoption and Manufacturing of Hybrid and Electric Vehicles or FAME 2 scheme.

"FAME-2 is essentially focused on buses. We have supported about 6,000 buses as it is mass transportation. We will support two-wheelers, three-wheelers," Kant said.

"If these people think they can import from aboard and sell in India, government subsidies will not be used for importing. These conditions have been put to ensure that they manufacture in India,” he added.

"It is a very good and progressive measure that someone like Rajiv Bajaj has started now manufacturing Bajaj Chetak as electric scooter and he will now use that as a springboard for export. That is what everyone should do,” he said.
primo org
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more
Live TV