The Mumbai-based battery startup develops advanced nano-material composites to enable quick-charging batteries for electric vehicle (EV), industrial storage, and consumer electronics space.
The government should consider offering a 50% capital subsidy for setting up R&D and quality testing infrastructure within the manufacturing units and a 200% super-deduction for the R&D expenditure on new and clean solar technology development. Simultaneously, it should look at implementing tariff barriers on imports for at least four-five years.
A new report says the imposition of safeguard duties and basic custom duties is only a partial solution to help the domestically produced solar modules remain competitive with imported panels. The government needs to adopt a long-term strategy towards PV manufacturing that supports backward integration and sustained innovation.
An ambitious, INR146,000 crore, five-year expansion of a previous domestic industry spending program includes money to attract investment into the sustainable energy and transport technologies.
Electric vehicles will account for 65-75% of new three-wheeler (3W) sales by 2030. Intra-city transport buses will see 25-40% EV penetration and two-wheelers 25-35%. In four-wheeler passenger vehicles, the market will be driven by shared mobility, while just 10-15% of new car sales for personal mobility will be electric.
With a huge market and relevant manufacturing advantages, the country aspires to become a giga-scale manufacturing destination for the breakthrough PV technologies across the value chain.
Doubling down on renewable energy investment and energy transition spending is required to ensure a truly green global recovery from the Covid-19 crisis and its economic aftershock, claims the International Renewable Energy Agency.
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