Union Minister of Road Transport & Highways Nitin Gadkari on Tuesday said that India will soon fully develop Lithiumion vehicles, which will bring down the cost of Electric Vehicles and he confirmed that he will be launching India’s first electric tractor next month.
And while the new scrappage policy will increase sales of new vehicles, he said, he has requested manufacturers to give 5% discount on new vehicle bought against scrapping the old vehicle.
“Vehicles in Delhi/NCR will be scrapped after 10 and 15 years as per judgement of the NGT,” said Gadkari in the presence of MoS Gen V K Singh.
He said he was glad to share that India now manufactures almost 90 percent of world leading car brands and very soon the nation will become a major transport manufacturing hub of world.
Gadkari said as conveyed by PM the scrappage initiative will promote a circular economy and make the process of economic development more sustainable and environment-friendly.