Summary
The Indian government recently brought out the union budget 2019-20 that provides key incentives with the aim to make India a global hub for R&D and manufacturing of advanced energy storage and electric vehicles (EVs) by 2022.
Significantly, stimulating EV uptake is a priority for the government as the country battles severe air pollution from fossil fuel-based vehicles. Currently, the Indian market share of electric cars is a meager 0.06%, in comparison to around 2% in China and up to 39% in Norway—according to the Ministry of Finance’s 2019 Economic Survey.
The latest budget places a clear focus on energy storage and EVs, according......