The idea for creating an Electric Vehicle (EV) fund has been put together by the think tank National Institution for Transforming India (NITI) Aayog and is now in the planning stages. The fund's primary goal will be to lower the hefty initial investment required for EV ownership.
The action aims to solve the problems with few charging stations and the expensive price of Electric Vehicles (EVs), which have so far discouraged customers and been a significant barrier for EV adoption.
All things considered, the Indian industry has unquestionably witnessed a rapid rise in EV adoption, which has left a gap in the financial resources available to meet EV needs.
The fact that Goa has stopped registering EVs under its subsidy programme is proof of this.
According to Godrej Tooling's programme, which seeks to create tools and dies for new engines, battery boxes, and high-strength, low-weight sheet metal parts using 3D printing and Artificiale inteligence (AI) assistance, new technologies and innovations are also anticipated to shape the EV industry in India.
The main forces driving the expansion of Electric Vehicle (EV) infrastructure in India will be the dropping car costs brought on by government subsidies, the Make in India manufacturing effort, and rising environmental consciousness.