Electric vehicles (EVs) in India are playing an essential role in coping with the challenges of air pollution and greenhouse gas (GHG) emissions. Five out of the ten most polluted cities in the world are in India.
Despite the challenging fiscal year 2020, the EV industry posted a 20% rise over 2019 in domestic sales in India at 156,000 units. In contrast, the internal combustion (IC) engine-powered vehicle segment registered an approximate decline of 34% against the same period last year.
In furtherance to that, with the recent rises in the diesel and petrol prices, the Indian citizens are choosing an alternative method of mobility to match their budget and extent a helping hand in protecting the environment.
In this transition phase, the Indian government has revised the policies to include India, a pioneer in electric mobility for global technology and vehicle companies. This policy framework has hugely been designed to usher in electric mobility since it holds a good promise for economic growth and comfortable living.
India’s push toward electric vehicles is creating opportunities for companies in ancillary spaces such as battery manufacturing,
The move toward electric vehicles is “inevitable” globally and in India, where higher fuel prices can make owning cars that run on electricity comparatively more affordable.
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The EV sector in South Asia’s largest economy is likely to receive a boost from Tesla.
The U.S. firm last month incorporated Tesla Motors India and Energy Private Limited with a registered office in the tech hub of Bengaluru in Karnataka. The news wire Reuters reported that a state government document claimed Tesla would open an electric car manufacturing unit in Karnataka.
CEO Elon Musk previously said on Twitter that Tesla cars would be available in the country starting this year.
For its part, India is attempting to reduce its dependency on oil and also decrease air pollution. That may spur the push into electric vehicles. In the latest annual budget, the finance minister announced a voluntary vehicle scrapping policy to phase out old vehicles that contribute to poor air quality.
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