Paytm founder Vijay Shekhar Sharma foresees strong opportunity in Electric Vehicles

Vijay Shekhar Sharma, Founder of Paytm, in a statement said that India can become a global reference for electric mobility.

Vijay Shekhar wants India to create global impact. He likes to see India champion electric vehicles and sustainability.

Vijay Shekhar said, “We can take a lead in electric mobility and become a global reference point.”

Sharma in an earlier interview said that if he has to start from scratch again, then he would prefer to venture into electric vehicles. However, he has not made any investment announcement as of yet.

Sharma believes that the time was ripe for entrepreneurs in India to create products for the local market. In the coming time, he sees Machine Learning and Artificial Intelligence to lead the innovation.

According to the reports, The Indian Government is aggressively pushing towards becoming electric vehicle market to create job opportunities and help economy rise. The government has set a deadline of 2030 to turn into electric vehicle market. It has taken a few steps and is promoting Power PSUs to take the lead in setting up EV charging infrastructure in the country. The EV charging infrastructure would need large investments.

Meanwhile, Niti Aayog, which has drafted a policy for electric vehicles, has suggested that EVs could have green numberplates. It is also planning to offer free parking for EVs three years and removal of toll charges on them.