Budget Insights from Visakh Sasikumar, CEO & Co-founder, Fyn Mobility
Visakh Sasikumar, CEO & Co-founder, Fyn mobility.
This is undoubtedly a future-looking announcement that will help India to become one of the prominent players in the green hydrogen space and thus reducing the dependency on lithium. With the budget allocated to the energy transition, we will see a lot of businesses turning to EV fleets. A green credit system will ensure that the startups and MNCs who is working for making the planet a sustainable place to live are incentivized.
The viability gap funding will ensure that new battery tech will get supported in the early days before it attains economies of scale.
Customs exemption on capital goods and machinery for lithium batteries will reduce the per kilowatt-hour cost of batteries and thus accelerate EV adoption in both personal and commercial segments.