Lockdown extension right move, adverse impact on EV sector in next 1-2 months: SMEV

Society of Manufacturers of Electric Vehicles (SMEV) on Tuesday said extension of the lockdown is the right move although there will be certainly an adverse impact on the operations of its members for the next 1-2 months. Describing the situation as a testing time for the EV industry, SMEV Director General Sohinder Gill said it is also time for its members to conserve cash, take care of workmen and utilise this time to plan ahead.

"Looking at the current situation in the country, the extension of the lockdown is the right move. Though there will be certainly an adverse impact on the operations for the next 1-2 months, I believe that we will be able to save lives of thousands and emerge as a healthier nation," Gill said in a statement.

He further said,"this is the testing time for the EV industry which is at nascent stage and I appeal to all the stakeholders to conserve cash, take care of our workmen and utilize this time to plan ahead." Gill expressed confidence that "the industry will be able to spring back into action to recover the losses due to this shutdown".

Earlier in the morning, Prime Minister Narendra Modi anounced extension of the ongoing nationwide lockdown till May 3 with an aim to combat the COVID-19 pandemic.