/ Industry, News, Other / India Approves $4.1 billion National Electric Mobility Mission Plan

India Approves $4.1 billion National Electric Mobility Mission Plan

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India Approves $4.1 billion National Electric Mobility Mission Plan

India’s National Council for Electric Mobility approved the $4.1 billion NEMMP according to which it supports production of hybrid and electric vehicles until 2020.

According to the National Electric Mobility Mission Plan (NEMMP), India aims at selling 6 million hybrid and electric vehicles in the following 8 years, from which 4 million are to be two-wheelers, quite similar to China’s plan to manufacture 500,000 EVs by 2015.

The National Council for Electric Mobility declared that it supports the plan because this would mean important savings on account of a decrease in liquid fossil fuel consumption. Choosing the electric mobility translates in an economically viable proposition. New Delhi will offer INR130bn ($2.3bn) of the investment, while the rest of the money will be provided by the Companies in India.

“The resultant benefits from fossil fuel savings are projected at 2-2.5 million tonnes in 2020,” NCEM said. “Carbon dioxide emissions are also projected to rise up to 1.5 per cent by the end of the Plan period.”

Recently Mahindra Reva Electric Vehicles has celebrated the inauguration of its manufacturing plant, the first platinum rated auto plant in India. The facility was unveiled by Mr. Anand Mahindra, Chairman and Managing Director, Mahindra Group, as part of the company’s vision to shape and co-create the ‘future of mobility.’

by Ana Cezara Savin (my Google+) - Monday, September 3rd, 2012 - filed under Industry, News, Other. Image credit: .
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