In the midst of numerous incidents involving electric two-wheelers catching fire, Giridhar Aramane, the Secretary of Road Transport and Highways, stated on Sunday that a thorough investigation will be conducted into each incident. He emphasized that despite challenges, the Indian electric vehicle (EV) industry is poised to flourish and exceed expectations.

Aramane disclosed that the Ministry of Road, Transport, and Highways (MoRTH) accomplished an overall asset monetization value of approximately Rs 21,000 crore in the fiscal year 2021-22 as part of the National Monetization Pipeline initiated by the government.

Addressing the concerns about electric vehicle fires and their potential impact on India’s ambition to lead in the EV sector, Aramane asserted that the industry can still thrive if manufacturers swiftly establish functional safety protocols, quality control measures, and quality assurance systems.

He mentioned the formation of an expert panel to investigate the incidents, clarifying that the panel’s report is pending. Aramane stressed the need to scrutinize all aspects, including procurement, design, management, operations, and manufacturing of batteries and electric vehicles, before providing appropriate recommendations.

Nitin Gadkari, the Minister of Road Transport and Highways, had previously stated that companies found negligent would face penalties, and a recall of defective vehicles would be ordered based on the expert panel’s report. The government initiated the probe following a fire involving an e-scooter from Ola’s electric mobility division in Pune.

On the topic of asset monetization, Aramane reported that the ministry accrued around Rs 20,000-21,000 crore in the 2021-22 fiscal year, combining asset monetization and toll securitization. He highlighted the government’s commitment to the National Monetization Pipeline, which aims to unlock value in infrastructure assets.

Regarding the Bharatmala Pariyojana Phase-I, Aramane acknowledged a delay in the timeline, stating that due to a one-year delay in initiation, the completion is now expected by 2023-24 instead of the initially targeted year of 2022-23. The Bharatmala Pariyojana Phase-I focuses on the development of national highway networks, economic corridors, and other key road infrastructure projects.

In response to connecting 112 aspirational districts, Aramane outlined plans to link these districts with employment-generating centers and manufacturing hubs through the ongoing development of national highways. He expressed the intention to cover the remaining districts through the ministry’s annual action plans over the next 4-5 years.