Is India Ready for EV Adoption?
Whether it is four-wheelers or two-wheelers, the Indian Government has a strong blueprint to promote and switch all vehicles into an electric one or say Electric Vehicles (EV) by the next five to six years.
The popularity of EVs is today logging new growth charts for automobile sector. A holistic approach by the world leaders on clean and sustainable energy is therefore backing the EV growth across the world.
Although the full potential of EVs seems to be still nascent; the recent market turmoil due to pandemic has put a hamper on EVs market’s growth
Albeit these turbulent times still the Future of EVs in India has been rapidly gaining momentum as the race for the production of EVs has already begun. With many global players already manufacturing in this growing market, the sudden transformation of the transportation market is not anything close anyone dreamed up so far.
So, what makes the Future of EVs in India a secure possibility in the next few years as predicted by the Indian Government?
Rise of EV Market at Global Scale
The biggest brand like Tesla investing billions of dollars in this venture is somewhere an early and dominant player when it comes to exorbitant price class. But, was that just the beginning of the mad race that started due to the development of a potential market. Foreseeing the potential of EVs on a long-term basis, many countries apart from the USA, like China and Japan have started the manufacturing of EVs at a large scale.
China has now become the largest manufacturer of EV vehicles whether it is four-wheeler or two-wheeler in the world with the USA and Japan at the respective positions after them.
With many start-ups already making their way in this expanding EV market, it would easy to overlook the upcoming IPO of Niu Technologies, a Chinese manufacturer of electric mopeds that is gaining popularity due to the sudden change of times. And as Tesla and many other countries manufacturers eyeing the nascent EV market of India, the Future of EVs in India is starting to look bright.
Future of EVs in India
Until recently, Electric Two-wheelers like electric motorcycles and scooters had gained far less global attention than electric cars due to Tesla and many famous brands. But that’s the beginning to change, especially in India, where the Two-Wheelers in India like motorcycles predominates and account for around 76 percent of vehicles on the roads and has a hand in producing a smashing 30 percent of the country’s pollution.
Southeast Asia’s biggest economies normally prefer owning two-wheelers that make up about 80 percent of households owning these. So, cleaning up this region’s air is directly related to reducing emissions from two-wheelers and also lifting the Future of EVs in India.
The fact remains the same that the core of e-mobility is the EV itself. We have already seen cities like Delhi and Kolkata lead the way for mainstream e-mobility. These metro cities had started to promote the use of e-rickshaws to lower operation and economical costs.
And that campaign has spread to the entire country now following their example while giving a boost to the Future of EVs in India. Reportedly, there are over one lakh e-rickshaws on the streets of Delhi while Kolkata and many other states have started the following suit. This development made a huge impact on EV sales for personal use as well.
And this was just the start in creating the roadmap of the Future of EVs in India as India’s major automobile manufacturers have recently started entering battery-powered vehicle manufacturing for vehicles like electric scooters and motorcycles that are gradually becoming mainstream transportation.
Backed by the “Make in India” initiative of the Indian Government and the steady rise of indigenous start-ups, the government has set the target to achieve 90% electrical by 2025. The e-scooter and motorcycle market has also grown significantly in the last few years on account of various government subsidies and initiatives to make a solid foundation in setting up the Future of EVs in India.
Road Ahead in EV Market
As a switch to electric cars will need the support of the Indian government, so too will the shift to electric two-wheelers to secure a better Future for EVs in India. Installing more charging stations has become the main priority of the Government. Also, Government should continue their work in focussing different regulations to be made in reducing transportation pollution to make this switch a lot smoother while securing the Future of EVs in India.
