The Future of Electric Vehicles In The Indian Market Seems Promising

The next ten years are projected to be the decade of fully electric vehicles. Electric automobiles are predicted to be as affordable as gasoline-powered cars in the near future, with battery prices apparently falling 73 percent since 2010. According to the International Energy Agency, up to 20 million electric vehicles will be on the road by 2020, with that figure predicted to rise to 70 million by 2025. E-promise mobility is being recognized by countries all over the world.

While China encourages e-mobility with tax deductions, EV sources of financing, research incentives, and other benefits, countries such as the United Kingdom, France, Norway, and India are planning to adopt e-mobility on a wider scale, with plans to phase out gasoline and diesel automobiles entirely in the upcoming years.

India seems to have an all electric vehicle future

India stands to benefit greatly from the broad use of e-mobility. Production of e-vehicles and their necessary accessories is predicted to boost the percentage of manufacturing in India’s GDP to 25% by 2022 under the Make In India program. On the financial front, the widespread adoption of electric vehicles is expected to save $60 billion in oil energy imports by 2030; now, imports account for 82 percent of India’s oil requirement. Electricity as a source of energy might drop to as low as Rs 1.1/km, benefiting an electric vehicle owner up to Rs 20,000 for every 5,000 kilometers driven.

Indian government plans for the e-mobility infrastructure

For decades, global automakers have been frantically attempting to find innovative and sustainable substitutes for fossil fuels. The overall destruction of the ecosystem has been a result of the using fossil fuels around the planet. And now, more than ever, there is a pressing requirement to transition away from petroleum fuels and towards more environmentally friendly energy alternatives. The entire world has now joined hands and agreed to work toward a carbon-neutral, zero-emission world.

Electric vehicles would be a critical component in achieving that aim. Nations such as the UK, Norway, France, and Germany have even amended laws prohibiting the sale of non-electric vehicles by 2025. As a result, the electric vehicle sector is one of today’s most interesting, important, and demanding fields of innovation. 

The Ministry of Power has already established the National E-Mobility plan in India, which includes a fleet of electric automobiles such as the Mahindra e-Verito sedan and the Tata Tigor EV.

The National E-mobility Programme of India aims to boost the whole e-vehicle ecosystem, which includes electric vehicle manufacturers, charging infrastructure developers, fleet operators, and service providers. The government has stated that it is studying charging infrastructure and policy framework in order to achieve a target of 30% electric vehicles in India. 

The “Go Electric” Campaign launched by Nitin Gadkari, Central Minister for Road Transport and Highways, and R. K. Singh, Central Minister of State (IC) for Power and New & Renewable Energy, is aimed to raise awareness about the benefits of e-mobility, EV Charging Infrastructural facilities and electric cooking in India.

The Go Electric Campaign is an effort aimed at lowering our country’s reliance on imports in the coming years, as well as a significant step toward a cleaner and greener future. The campaign aims to raise awareness across India and is likely to increase electric vehicle manufacturers’ trust.

What Are The Benefits Of Electric Vehicles Over Gasoline Vehicles? 

Electric vehicles, in comparison to conventional internal combustion (IC) engines, have a significantly reduced running cost. Electric vehicles are 75-80 percent cheaper to operate and maintain on average, which is a significant factor for many consumers who drive frequently. This is true across form factors since charging a battery is significantly less expensive than refueling a typical liquid fuel tank.

What Are The Obstacles to Electric Vehicle Adoption Among Consumers? 

It’s never easy to break free from old lifestyles and build new customer behavior. Users are frequently concerned about the speed and range of electric vehicles. As a result, a lot of education and awareness is needed to dispel various misunderstandings and promote EVs in the Indian market, according to Zoomcar’s Greg. 

Apart from that, there are a lot of obstacles in the way of India’s adoption of electric vehicles in the near future. These are some of them: 

• Infrastructure for charging batteries
• Performance of the battery 
• The supply-demand imbalance 
• Creating a closed-loop system

Fabrication of battery cells is unavailable. 

In India, main battery cell manufacturing is completely absent, posing a risk of widening our trade deficit. Most manufacturers relied on batteries imported from Japan, China, Korea, and Europe at the time. As a result, the Indian market needs encouragement for indigenous innovations that are strategically and economically beneficial to India, such as aluminum fuel cell technology.

How Long Will It Take To Make The Switch To Electric Vehicles? 

According to media reports, electric vehicles account for barely 1% of overall vehicle sales in India, with electric two-wheelers accounting for 95% of those sales. While only 1,500 electric automobiles were sold for personal use between April and December 2019, sales of electric two-wheelers under the FAME program dropped by 94% in the first half of FY20. 

Scooters accounted for 79% of all vehicles sold in India in 2018. People will notice that the transition to two-wheelers is not merely silent. 2 wheelers take up less room and require lower initial financial commitments than vehicles, thus the change will begin here, as India is a price-sensitive market.

Find more at vrikah.com