Friday, July 19, 2024

Interim Budget 2024: Electric Commercial Vehicle Sector Praises Emphasis on Eco-friendly Transport


The electric commercial vehicle (CV) industry has expressed strong support for the Interim Budget 2024’s focus on sustainable mobility, reflecting a shared commitment to greener transportation solutions. Finance Minister Nirmala Sitharaman’s budget announcements have been lauded for propelling India’s vision towards eco-friendly mobility.

Abhinav Kalia, CEO and Co-Founder of ARC Electric, praised the government’s dedication to enhancing the electric vehicle (EV) sector, highlighting the significant reduction in taxes on lithium batteries as a pivotal move for the industry. The adjustments have made EVs more affordable, stimulating market growth and reinforcing the sector’s foundation.

Aditi Bhosale Walunj, Founder and CVO of Repos Energy, emphasized the importance of energy security and praised the National Green Hydrogen Mission for ensuring a supply of clean energy. This initiative is seen as a progressive step towards sustained economic growth and the efficient use of fuels.

Anirudh Bhuwalka, CEO of Blue Energy Motors, welcomed the budget’s reinforcement of the government’s focus on Green Energy and sustainable development, aligning with India’s ‘net-zero’ goals.

Anmol Singh Jaggi, CEO & Co-Founder of BluSmart, pointed out the budget’s role in promoting EV adoption and enhancing charging infrastructure. The measures are aligned with India’s climate goals, aiming for a significant reduction in emissions intensity by 2030.

Devndra Chawla, MD and CEO of GreenCell Mobility, celebrated the focus on e-buses within public transportation networks, recognizing its potential to substantially reduce carbon emissions.

Dr. Sudhir Mehta of Pinnacle Industries & EKA Mobility highlighted the budget’s emphasis on infrastructure development, women entrepreneurship, and the EV charging infrastructure as key to economic growth and environmental responsibility.

Comments from leaders across the electric CV industry reflect a strong endorsement of the Interim Budget 2024’s initiatives for sustainable mobility, illustrating the sector’s readiness to support and benefit from the government’s vision for a greener future.

Alex Sterling
Alex Sterling
Alex Sterling is a seasoned journalist with over a decade of experience covering the dynamic world of business and finance. With a keen eye for detail and a passion for uncovering the stories behind the headlines, Alex has become a respected voice in the industry. Before joining our business blog, Alex reported for major financial news outlets, where they developed a reputation for insightful analysis and compelling storytelling. Alex's work is driven by a commitment to provide readers with the information they need to make informed decisions. Whether it's breaking down complex economic trends or highlighting emerging business opportunities, Alex's writing is accessible, informative, and always engaging.

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