Business

SIAM welcomes PM Modi's assurance on co-existence of ICE vehicles and EVs

ANI | August 14, 2019 05:16 PM
The government has been emphasising on electric mobility and other greener mobility solutions

New Delhi [India], Aug 14 (ANI): Automobile manufacturers on Wednesday welcomed Prime Minister Narendra Modi's recent assurance that both internal combustion engine (ICE) and electric vehicle technologies can co-exist.

"It is indeed a very welcome statement," said President of the Society of Indian Automobile Manufacturers (SIAM) Rajan Wadhera.

"This is completely in-line with SIAM's recommendations that all relevant technologies should co-exist in our journey towards sustainable mobility. Hence it would call for a long-term roadmap for all futuristic technologies, which instils confidence to the industry to get going."

The government has been emphasising on electric mobility and other greener mobility solutions in recent years. The Prime Minister said in an interview that the country has a large enough market and big enough policy space to ensure the growth of ICE-based automobiles as well as EVs.

Meanwhile, Chairman of TVS Motor Company Venu Srinivasan said Modi's clarification is a step to encourage investment and employment in the automotive sector.

"This will provide reassurance to millions of people across the supply chain ranging from component manufacturers to original equipment manufacturers, dealers, mechanics and associated people across the country. A technology-agnostic approach that encouragesall options is very important for a developing country like India which is dependent on fossil-based sources for much of its power," he said in a statement.

Besides, with some other measures announced towards increasing liquidity, the clarification will provide stability to ensure India continues to remain one of the leading investment destinations in the world.

"It will also help Indian companies to be globally competitive. This approach will give further fillip to the Prime Minister's vision of Make in India programme," said Srinivasan. (ANI)

Have something to say? Post your comment
Must Read
By and Far Flood Situation Under Control in the State
By and Far Flood Situation Under Control in the State
Work of plugging breaches over river Satluj to be accomplished at the earliest- Sukhsarkaria, Bajwa
Work of plugging breaches over river Satluj to be accomplished at the earliest- Sukhsarkaria, Bajwa
Arrange delivery of duplicate copy of documents lost in rain: Rahul Gandhi urges Kerala CM
Arrange delivery of duplicate copy of documents lost in rain: Rahul Gandhi urges Kerala CM
District Administration disposes six dead cattle, brought on boats from flood-ravaged houses
District Administration disposes six dead cattle, brought on boats from flood-ravaged houses
DC asks departments to pull up socks for restoring normalcy in marooned villages of district within a week
DC asks departments to pull up socks for restoring normalcy in marooned villages of district within a week
Capt Amarinder seeks joint action plan with Army to strengthen Tendiwala Embankment
Capt Amarinder seeks joint action plan with Army to strengthen Tendiwala Embankment
Congress leaders challenge akalis to come clean on statement of Subramaniam Swamy advocating halting Sri Kartarpur Sahib corridor work
Congress leaders challenge akalis to come clean on statement of Subramaniam Swamy advocating halting Sri Kartarpur Sahib corridor work
Gujarat: VHP organises 'Rath Yatra' on Janmashtami
Gujarat: VHP organises 'Rath Yatra' on Janmashtami
Rahul pens down condolence letter to Jaitley's wife, says his presence will always be remembered in Parliament
Rahul pens down condolence letter to Jaitley's wife, says his presence will always be remembered in Parliament
Pak Senate Chairman cancels UAE trip over highest civilian honour to PM Modi
Pak Senate Chairman cancels UAE trip over highest civilian honour to PM Modi
Even in jail he never lost cool: BJP's VK Malhotra mourns loss of friend Jaitley
Even in jail he never lost cool: BJP's VK Malhotra mourns loss of friend Jaitley
Venkaiah Naidu breaks down at Arun Jaitley's funeral
Venkaiah Naidu breaks down at Arun Jaitley's funeral