Union Road Transport Minister Nitin Gadkari believes India can become the world’s largest electric vehicle (EV) manufacturing hub. Pointing to the recent discovery of lithium-ion reserves in Jammu and Kashmir, Gadkari highlighted the huge potential to accelerate electric vehicle manufacturing.
Gadkari, speaking at an event organized by the Confederation of Indian Industry in New Delhi, explained that by reducing lithium imports in the future, India has the potential to become a strong electric vehicle manufacturer. “Every year, we import 1,200 tons of lithium. Now, in Jammu and Kashmir, we get lithium. (If) we can use this lithium-ion, we will become the number one car manufacturer in the world,” news agency PTI quoted His words.
India recently overtook Japan to become the world’s third-largest auto market, after China and the United States. Gadkari said the value of India’s auto industry is about 75 trillion. India is also likely to accelerate its ambitions for zero-emissions mobility with the discovery of some 5.9 million tonnes of lithium, a key component in electric vehicle manufacturing. In addition, officials have confirmed that the lithium available at J&K is of high grade.
India still has a long way to go before approaching the Chinese and US auto markets. China is also the largest EV market in the world, with numerous local and global players vying for every available inch. Germany, the US, and France are some of the other EV powerhouses. In terms of the highest share of electric vehicles, Norway comes out on top.
First published date: March 24, 2023 at 18:10 PM USST
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