Budget 2022 Reaction from Saurav Kumar, Founder & CEO, Euler Motors

Euler Motors is an automotive OEM focused on electric commercial vehicles. Founded in 2018, the company is developing & deploying innovative technology solutions to democratize a swift EV transition, by building EVs that are designed for India, from India. With their custom-made EVs, Euler Motors aims to create superior alternatives to traditional mobility for the mass adoption of electric vehicles. 

Proud as an Indian and energised by the forward-looking mood of the budget. The Government continues to also keep fundamentals in mind for collective progress for India to set examples for the world. The focus on clean energy is a critical measure that will benefit both citizens as well as the planet.

The budget 2022 is pragmatic that brings thrust on clean technology, encourages a shift in mobility, and achieves decarbonization. These steps will help accelerate the growth of EVs across segments. 

An EV standardization framework and the formulation of new interoperability standards will allow a faster market penetration for EVs. Further, the proposition towards special mobility zones with a zero fossil fuel policy is a potent initiative towards EV adoption in addition to expansion of charging infrastructure and innovative business models for battery and energy as service in India.

Many organized players and e-commerce companies have realized the benefits of the electrification in last mile connectivity. With encouragement from the Government, we expect greater demand for e-vehicles in the light commercial space.

The continued impetus to boost start-up sector growth, with tax extension reforms is also encouraging and welcome, and will aid growth of small businesses, fostering innovation and employment.

Overall, we believe the Government’s thrust towards clean-tech and e-mobility in this year’s budget are defining steps, the results of which will be crucial in realising India’s EV vision for 2030.