Electric Vehicles: A Mandate Towards Green & Clean India
Electric Vehicle sector is one of the booming sectors in India, nowadays and everyone is looking into the upcoming Indian Electric Vehicles (EVs) in 2022.
Electric vehicles are in trend from last few years. Every country is investing on EV sector not only in their respective countries but in other places, also. Electric Vehicle sector is one of the booming sectors in India, nowadays and everyone is looking into the upcoming Indian Electric Vehicles (EVs) in 2022. Companies like Tesla and Hyundai has been launching their latest products in India. By adopting electric vehicles, India is reducing the dependency on oil and also decreasing air pollution.
Upcoming Indian Electric Vehicles (EVs) in 2022
According to a latest report, in the last few years we have got higher EV launch in India. From international to Indian brands, almost every automotive brand is focusing on EV.
- In order to pursue new EV launch in India, Hyundai Motor India is planning to invest about 4,000 crore for R&D within the span of seven years. The company is planning for six new EV launch in India by 2028.
- Greaves Electric Mobility has started its investment towards EV launch in India. Recently, the company has announced its largest EV production facility in Ranipet, Tamil Nadu.
- TATA, the biggest name in the automotive sector has also broken all record by selling 1751 units of Nexon as well as Tigor EVs in November, this year. Presently, Tata has 2 Electric Vehicles in its portfolio. The most popular is Tigor EV and Nexon EV. So, the EV launch in India in upcoming year will definitely get increased.
- Hero Electric’s EV launch in India has made a tremendous mark this year. According to a latest report, India’s largest electric two-wheeler company has over 4,00,000 electric vehicles on the roads, and has a whopping 36 per cent market share in the Indian electric vehicle segment.
- There is another EV launch in India by 2024 and the name of the company is OPPO. The Chinese mobile company Oppo is now planning to invest in EV sector. According to a report by 91mobiles, Oppo is planning to announced first lineup of EV launch in India by the end of 2023 or early 2024.
- BMW, the brand is enough to attract the attention of car lovers. BMW has also announced a plan of EV launch in India. The company has a demand of reduction in import duties on electric vehicles (EV) for a limited time or for a limited number of units will help create demand in order to help manufacturing of such vehicles in India and bring new technologies quicker to the country.
- Skoda Auto has also plans of EV launch in India. Skoda is also waiting of the government approval for lower import duty.
Market Report
The electric vehicle market in India may grow by 90 percent CAGR in this decade to touch $150 billion by 2030, says a report by consulting firm RBSA Advisors.
The report says that EV market is currently in its infancy and is estimated grow at CAGR of 90 per cent from 2021 to 2030. In terms of penetration, EV sales accounts for barely 1.3 per cent of total vehicle sales in India during 20-21. However, the market is growing rapidly and is expected to be worth more. India’s shift to shared, electric and connected mobility could help the country save nearly one giga-tonne of carbon dioxide emissions by 2030.
The country situation and government decisions…
A report from World Health Organisation (WHO) says that India has the world’s worst air quality and the upcoming Indian Electric Vehicles (EVs) in 2022 sounds to be the solution. Infact, during Covid pandemic in 2020 with national and state lockdowns, 36 cities out of 50 cities which had unhealthy levels of air quality were from India. The vehicles has tremendous role in polluting the country.
The government has recently announced an agenda of new sales of ICE (Petrol & Diesel) vehicles to 100% plug-in electric vehicles (EV) by 2030. The government is also aiming to transform India into a global hub for electric vehicles manufacturing.
For enhancing EV business, upcoming Indian Electric Vehicles (EVs) in 2022 definitely requires charging stations. For fast tracking the EV in India, the government is planning to install up to 70,000 EV chargers across the country in the next few years. In coming time with a lesser duration there will be a charging station on every petrol pump.
Conclusion
Almost 20 states in India have also started plans to adopt EV policy in India. Their aim is to promote India’s transition from ICE to EVs. Each state has some kind of moderation in their policy but the agenda is same. They want to solve air quality issues, help in climate change mitigation, reduce dependence on oil imports and promote development of EV industry.
