homebusiness NewsIBLA 2023 19th Edition: Tesla can't afford to miss India's electrification bus, says Piyush Goyal
IBLA 2023 19th Edition: Tesla can't afford to miss India's electrification bus, says Piyush Goyal
Speaking at CNBC-TV18's India Business Leader Awards (IBLA), Goyal projected that within seven years, every new vehicle sold in India will be an EV and global EV leader Tesla cannot afford to overlook India's rapid electrification.
Union Commerce Minister Piyush Goyal believes the age of electric vehicles (EVs) has arrived. In a fireside chat with Network18 Editor-in-Chief Rahul Joshi at the India Business Leader Awards (IBLA), Goyal projected that within seven years, every new vehicle sold in India will be an EV and global EV leader Tesla cannot afford to overlook India's rapid electrification.
"...another two or three years and I see almost 100% of new two-wheeler sales being electric. In three-wheelers, we are almost already close to 100% electric three-wheelers..." he said.
While Indian automobile giants like Tata Motors and Mahindra are spearheading this EV movement, Maruti is also likely to join the fray soon, he noted.
"We'll see a lot of action on (electric) four-wheelers. Therefore, Tesla would not like to miss the bus," he noted.
This shift towards electric vehicles, he stated, will have a profound impact on the Indian economy, significantly reducing crude oil imports and carbon emissions, thus paving the way for a more sustainable and economically robust future for India.
He also shared his views on the elections. Piyush Goyal said that the Bharatiya Janata Party (BJP) will comfortably win both states of Madhya Pradesh and Rajasthan, where some exit polls are predicting a close finish.
(Edited by : Shweta Mungre)
First Published: Dec 2, 2023 9:00 PM IST
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