Auto firms take cue from govt, gear up for future beyond petrol, diesel

Automobile and other companies in India are following through on the government’s push to turn the country into a global manufacturing hub for electric vehicles by announcing plans to tap this emerging market.

With the government revealing serious intent for the EV segment with a host of incentives in the budget, automakers are gearing up to prepare for a future beyond petrol and diesel vehicles.

Hyundai Motor Co., India’s second-largest carmaker, plans to set up a lithium-ion battery manufacturing plant for its affordable electric vehicles designed for the Indian market. Hyundai’s sourcing department is in talks with vendors to create a separate supply chain for such vehicles.