Indian coal ministry directs Coal India to invest in EVs, charging pods

India is determined to achieve its electrification goals and has been taking small but steady steps towards it. In its latest such move, the nation's coal ministry has asked state-run Coal India to branch its interests in areas such as electric vehicles and charging stations, as per an agenda document on the ministry's website, Reuters reported.

According to the document, Coal India has been directed to explore prospects considering electrification. “Coal India must diversify its business and must explore prospects in sunrise industries electric charging pods, electric vehicles etc," said the coal ministry in a document titled ‘Ministry of Coal's agenda for 2021-22’, the report mentioned.

By production, Coal India is the world's largest coal mining company and is responsible for more than 80 per cent of India's fuel output. The country is also the second-largest importer, producer and consumer of coal. It has the world's fourth-largest reserves and it mainly imports from Indonesia, Australia and South Africa, stated the report.

Earlier, the corporation announced its plans to invest in solar wafer manufacturing and power generation, coal gasification, extraction of coal bed methane and setting up aluminium smelters. It has also been considering participating in foreign tenders seeking coal after meeting domestic demand. “Traders/coal consumers of the neighbouring countries can also participate in the Special Spot e-auction / Spot e-auction windows of Coal India," stated the document.

The report also stated that Indian utilities are currently in a tough spot to secure coal supplies as inventories have hit critical lows after an increase in power demand from industries and sluggish imports because record global prices have pushed power plants to the brink.

(With inputs from Reuters)