Carmakers urged to cut imports from China; transition to electric vehicles inevitable

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Carmakers urged to cut imports from China; transition to electric vehicles inevitable

Carmakers dependence on China for components needs to stop, feels govt

In a significant push towards realizing the Make in India policy, India has urged local car manufacturers to stop imports of electric-vehicle components and other automotive parts from China.

A Live Mint report quoted NITI Aayog CEO Amitabh Kant saying that specific automotive components currently being imported from China can be manufactured in India. Kant stressed India’s cost competitiveness and development capabilities so that domestic car companies can manufacture such components in India itself.

Adding that India should not become a significant importing nation in electric-vehicle components, the NITI Aayog chief said India has been dependent on China for magnets used in the motors of EVs, semiconductor-based components, and other electrical parts. Urging car makers to stop this practice altogether, he said companies need to derisk the supply chain by boosting localization, reducing dependency on imports from China.

Read more on Digpu.com


https://www.digpu.com/business-and-finance/carmakers-to-cut-imports-china

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