NEW DELHI, Mar 7: The Union Cabinet on today approved setting up of a National Mission on Transformative Mobility and Battery Storage to drive clean, connected, shared, sustainable and holistic mobility initiatives. The Cabinet also gave its nod for Phased Manufacturing Programme (PMP) valid for five years till 2024 to support setting up of a few large-scale, export-competitive integrated batteries and cell-manufacturing giga plants in India.
Creation of a PMP valid for five years till 2024 to localise production across the entire Electric Vehicles value chain was also approved by the Cabinet, Union Finance Minister Arun Jaitley told reporters here. He said both the PMP schemes will be finalised by the National Mission on Transformative Mobility and Battery Storage. The multi-disciplinary ?National Mission on Transformative Mobility and Battery Storage? with an Inter-Ministerial Steering Committee will be chaired by CEO of the NITI Aayog.
The Mission will coordinate with key stakeholders in Ministries/ Departments and the states to integrate various initiatives to transform mobility in India.
The Mission will drive mobility solutions that will bring in significant benefits to the industry, economy and country. These solutions will help improve air quality in cities along with reducing India’s oil import dependence and enhance the uptake of renewable energy and storage solutions. The Mission will also lay down the strategy and roadmap which will enable India to leverage upon its size and scale to develop a competitive domestic manufacturing ecosystem for electric mobility.
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