Electric Vehicles: Future in India

 

“The time is right for electric cars- in fact, the time is critical.” Carlos Ghosn (CEO of Renault)

By 2030, the mode of transport will be led by electric vehicles (EVs); that is the plan the Indian government wants the automobile industry to adapt to. The popularity of EVs is rising due to multifarious reasons like being eco-friendly and having lower maintenance costs. EVs have zero tailpipe emissions making them better for the environment than the other vehicles which run on fuel. EVs induce sound next to zero, which is necessary to reduce noise pollution. 

There are several policies set up by the Indian government like Faster Adoption and Manufacturing of {Hybrid and} Electric vehicles (FAME) as well as EV@30 campaign. FAME is set in motion with a goal of reaching 30% EV infiltration by 2030 and is estimated to have savings of up to 474 million tonnes of oil equivalent and 846 million tonnes of net CO2 emissions. The Indian government has also planned to invest $1.4 billion towards boosting EVs manufacturing through the FAME scheme. It has also decreased the GST for EVs from 12% to 5%; ensuring that the public can afford the EVs.

Ola has launched “Mission: Electric” which incorporates around 10,000 e-rickshaws and electric auto-rickshaws. Mahindra and Mahindra is investing around INR 18 billion into EV production. Reliance has also stepped in and has targeted to become net- carbon zero by 2035 while having said to replace transportation fuels with clean electricity and hydrogen. In 2017, the investment in EV start-ups was around $20 million and by 2019, it escalated to approximately $406 million. While Ola Electric headlined the increase having $300 million in funding, there were other start-ups like Ather Energy, Twenty-Two Motors, Lithium Cabs, Yulu, Zypp, SmartE which could grasp the interest of investors.

We have read about how these EVs have a greater impact on creating a much better and greener environment and so, keeping in mind the pollution in India, mainly noise and air, we’d say that the notion of having EVs in India in the near future is a must. The plus points an EV has would be more than enough to attract us, as customers; ranging from being eco-friendly, having low maintenance cost, and eliminating fuel cost. Many states in India have already commenced launching electric vehicles as a mode of transport. For example, Delhi has an estimated 70,000 electric rickshaws and will be having around 1,300 electric buses. The phase II initiative of FAME would see 5,500 electric buses around 64 cities.

All in all, we see EVs as a platform worth investing in. The demand is set to increase and the automobile industry would be stirring the manufacturing and production of EVs to meet the demands. 

For a better, cleaner, and greener future, we’d shift to EVs. Will you?