Accelerating the adoption of Electric Vehicles (EV) in the country

Can we deduce that pandemics are harbingers of changes? Certainly, they are. While human sufferings cannot be ignored in any way, there is a silver lining to this COVID-19 pandemic. The travel ban resulted in reduced usage of petrol and diesel vehicles and this improved the deteriorating air quality. Therefore, it is worthwhile to take a moment and look at what can be done further for accelerating the adoption of Electric Vehicles (EV) in India.

Growth of EV in India

Literally speaking, the fascination for electrified mobility took root in India way back in 2013 with the unveiling of the “National Electric Mobility Mission Plan (NEMMP) 2020”. Since then, the electric vehicle revolution is reshaping the automotive industry in the country. In fact, the government has set a target of making 30% of Indian vehicles electric by 2030.

The potential for the EV sector is therefore promising. India is a large market for the automobile industry where as many as 90% of commuters opt for two-wheelers, three-wheelers, and buses. Hence, initially, there was a strong preference for electrifying only two-wheelers and three-wheelers. However, that notion has now evolved. The automobile industry is witnessing trans-mobility electrification (of cars, public transportation, and so on) and this will continue in the years to come.

Adding another aspect to the EV adoption is the growing awareness of eco-friendliness by millennials. They are more concerned about issues such as global warming and climate change. So, millennials are emerging as the key drivers for a cleaner and greener future while driving the demand for EVs in India.

Overcoming challenges

Having said the above, we cannot ignore that a bottleneck to EV adoption in the country is the lack of necessary infrastructure and technology for EV charging. So, as we lay the foundation to move from ICE vehicles to all-electric mobility; setting up EV charging infrastructure becomes imperative.

Taking this into consideration, innovative automobile players are leading India’s transition towards a more sustainable and ultramodern future. They are now working towards the development of the EV charging infrastructure on a pan-India level. Further, the automakers have also included features such as remote charging stations and on-the-go charging services available 24/7 as part of their customer support.

Moreover, another challenge faced by the Indian EV industry is the slow and non-standard chargers. Such chargers make charging a time-consuming affair, multiplying the effect of “Range Anxiety” for the consumers. It is therefore important to consider that moving to greener technologies need affordable, safe, and powerful batteries. Several leading manufacturers of a high-quality range of Li-ion batteries are developing better performing, reliable, and more environmental-friendly batteries for EVs.

Creating awareness about EVs

In addition to the above, there is another step that needs to be taken along the journey to EV adoption. While developing EVs and EV charging infrastructure, it is equally important to create awareness and knowledge on the same. Thus, consumers and fleets should have adequate know-how on how the technology works; where to charge, where to find them, and how to change the battery, etc. Plus, financial factors including purchase price, running costs (and Total Cost of Ownership), the availability of financial incentives and vehicle depreciation will also have a substantial impact on EV adoption.

The future of EVs

The potential for EV expansion and adoption is huge as a recent report suggests that the global electric vehicle market will reach a valuation of $802.81 billion by 2027. In India too, the winds of change are already blowing as EVs have started penetrating the market. Thus, a holistic approach is necessary to achieve large-scale EV adoption in India. Collaboratively, automakers, battery manufacturers, government, suppliers and dealers can further promote the manufacturing and adoption of electric vehicles. Thus, in the years to come EVs will dominate the automobile industry.