Govt asks Coal India to expand into electric vehicle business

The Ministry of Coal has asked Coal India Limited to expand into the electric vehicle and charging stations business. The ministry, in a document titled Ministry of Coal's agenda for 2021-22, said that Coal India must expand its business and must explore prospects in sunrise industries, electric charging pods, electric vehicles. Coal India is the world's largest coal mining firm by production and estimates for more than 80% of India's fuel output. India is the second-largest importer, consumer and generator of coal and has the world's fourth-largest reserves. It essentially imports from Australia, Indonesia and South Africa. The federal government-controlled miner has already declared plans to fund power generation, solar wafer manufacturing, coal gasification, extraction of coal bed methane and installing aluminium smelters. India has also urged the miner to consider engaging in foreign bids seeking coal after fulfilling domestic demand. Traders and coal consumers of the neighbouring nations can also take part in the spot e-auction windows of Coal India. The ministry also said that a robust media campaign was required for perception management in the coal sector, adding that proposals presented by Coal India and its units were being finalised. Indian utilities are struggling to acquire coal supplies since inventories hit critical lows after power demand surge from industries and sluggish imports due to record global costs push power plants to the brink. Image Source Also read: EV Jagat launched in India to boom in country’s EV sector