Tata Motors Eyes Continued EV Policy Support in Upcoming Union Budget

Tata Motors anticipates policy continuity in the upcoming Union Budget. They also stress the need for more players in the charging infrastructure sector to boost electric mobility adoption in India. The new NDA government is expected to present the Union Budget next month.

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Policy Support for Electric Mobility

The Central Government has been presenting the Union Budget on February 1 in recent years. However, due to 2024 being an election year, only an interim Budget was presented in February this year. Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility Managing Director Shailesh Chandra said, "So what we would expect in the Union Budget is that the policy continues till this electric vehicle industry becomes self-sufficient."

Chandra emphasised that policy support should persist until a 15-20 per cent penetration level is achieved in the electric vehicle sector. He added that there should be a stronger focus on policy support towards charging infrastructure, which remains a significant barrier to electric vehicle penetration.

Need for More Players in Charging Infrastructure

Chandra highlighted that oil marketing companies have received subsidies to install 2000 chargers over the next 18 months. He stressed the importance of private participation in this space, stating, "We need more and more players, more professionally managed to lead this journey."

He also pointed out existing bottlenecks in installing chargers at the community level or obtaining connections from Discoms for public chargers. Removing these obstacles is crucial for advancing electric mobility infrastructure.

Government's Clear Support

The government has been clear and supportive of accelerating electric mobility penetration in India. Various schemes such as GST and PLI are already in place to aid this transition. Chandra reiterated the need for these policies to continue until the electric vehicle industry becomes self-sufficient.

In conclusion, Tata Motors expects continued policy support and increased private participation in charging infrastructure to drive faster adoption of electric vehicles in India.