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India Intends to Inject Nearly $5 Billion in EV Battery Incentives to Boost Sector

At this point, plenty of governments have recognized that phasing out internal combustion-engine vehicles in favor of electric cars is inevitable if they wish to avoid climate disasters. As temperatures rise, ice shelves melt and wildfires burn, the need for alternative energy that is clean, renewable and doesn’t produce emissions has become crucial. And while electric cars check many of these boxes, most countries are still a long way from widespread adoption of EVs.

In many territories, that can be attributed to high purchase prices coupled with poor battery and charging infrastructure, and some governments are already working at eliminating these barriers to widespread EV adoption. India, for instance, is poised to offer up to $4.6 billion to companies setting up advanced battery manufacturing facilities. According to a draft proposal…

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