India rises, surpasses Japan, aims EV dominance by 2047: Auto Powerhouse

In a historic revelation at the Vibrant Gujarat Global Summit 2024, Union Minister for Road Transport & Highways, Nitin Gadkari, proudly announced India’s ascent as the world’s third-largest automobile market, surpassing even automotive giant Japan. The minister’s proclamation marked a pivotal moment in India’s automotive landscape, underlining the nation’s burgeoning potential.

Electric Vehicle Boom: A 500% Surge in Sales in 2023

Gadkari, addressing the ‘Electric Vehicle Manufacturing: Charging Ahead to 2047’ session organized by FICCI, disclosed a staggering 500% surge in electric vehicle (EV) sales in 2023 compared to 2021. This revelation paints a vivid picture of India’s accelerating shift towards sustainable and eco-friendly transportation options. The projections indicate an ambitious annual growth rate of 50% by 2030, reinforcing India’s commitment to embracing cleaner, greener mobility solutions.

Capitalizing on Momentum: PM Modi’s Vision for Global Auto Hub

Emphasizing India’s untapped potential under Prime Minister Narendra Modi’s dynamic leadership, Minister Gadkari urged the auto industry to seize this momentum. The call to action was clear – make India the leading global hub for automobile manufacturing. This visionary ambition sets the stage for a paradigm shift, positioning India at the forefront of the automotive industry.

Invest Now or Miss the Bus: Anticipating Growth and Job Creation

With a stern warning, Minister Gadkari echoed the sentiment that now is the opportune time for investments in the Indian automotive sector. The anticipation of annual EV sales reaching a staggering 1 crore, coupled with the creation of 5 crore jobs by 2030, serves as a compelling incentive. These projections hinge on the decreasing costs of lithium-ion batteries, a catalyst for the exponential growth foreseen in the electric vehicle market.

Gujarat’s Strategic Role: Pioneering EV Adoption in Public Transportation

Harsh Sanghavi, Gujarat’s Minister of State for Transport, underscored the pivotal role the state plays in deploying EVs in public transportation. A policy-driven approach ensures not just environmental sustainability but also promises significant returns on investment. Gujarat’s commitment to fostering an ecosystem conducive to electric mobility positions it as a trailblazer in the nationwide transition towards sustainable transportation solutions.

Government’s Continuous Efforts: Aiming for an EV-Friendly Ecosystem

Mahendra Nath Pandey, Union Minister of Heavy Industries, reflected on the government’s unwavering efforts since 2015 to create an EV-friendly ecosystem. With plans to commence production of Advanced Chemistry Cell (ACC) batteries by February 2024 under PM Modi’s guidance, the government is taking concrete steps to ensure a seamless transition to electric mobility.

Toyota’s Pledge: Shaping the Future of Electric Vehicles

Toyota’s Country Head, Shri Vikram Gulati, made a groundbreaking announcement during the summit. The commencement of Toyota’s work on EV cars capable of traveling 200 km with a mere 10-minute charge signifies a significant leap towards efficient and accessible electric transportation. This bold move from a global automotive leader further cements India’s position as a key player in the future of electric mobility.

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