From over 25 players in the electric vehicle industry a couple of years ago, only 4-5 are left now and if the government does not come out with the plan, then even these would be forced to opt out of the segment, he added.
Fearing closure of business, electric vehicle makers have sought government support in the Budget to give a boost to the sector saying the National Electric Mobility Mission Plan 2020 must be implemented at the earliest.
"For us the roll out of NEMMP 2020 is of critical importance. If it doesn't happen in this Budget then it would be end of the road for the industry," Hero Electric CEO and Society of Manufacturers of Electric Vehicles (SMEV) Director-Corporate Affairs Sohinder Gill said.
From over 25 players in the electric vehicle industry a couple of years ago, only 4-5 are left now and if the government does not come out with the plan, then even these would be forced to opt out of the segment, he added.
Although NEMMP 2020 was announced in 2013, the delay in taking concrete actions on it has severely hampered growth of electric vehicles in India.
It had envisaged the government providing support to the tune of Rs 13,000 crore to Rs 14,000 crore over a period of 5-6 years with sales projection of 6-7 million units of new units of the full range of electric vehicles.
Highlighting the importance of government support, Mahindra & Mahindra Chief Executive, Automotive Division Pravin Shah said: "We are expecting some sort of allocation in the Budget that'll help in making the electric vehicles more affordable for consumers as the current cost is very high."
It was about taking the steps to kick-start the journey towards sustainable mobility, already there is a roadmap, he added.
Sale of electric cars in India is less than a thousand units a year and is "far from our expectations", he said.
Mahindra Reva sells its small electric car e20 in select cities in the country but the high cost has been a hindrance.
Detailing the areas where the auto industry wants support from Centre, Shah said: "Creation of infrastructure, such as charging stations, reducing import duties on components till the time homegrown technology is developed and providing R&D incentives are important."
He also said that asking states to take up electric mobility as a priority would go a long way in making the initiative a nationwide success.
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