April 22, 2024

Climate change has become a significant concern over the past few years. To address these issues effectively, almost all governments worldwide have encouraged the growth of electric vehicles (EVs) to help them. India, which is also working to reduce carbon emissions globally, has given renewed attention to clean mobility and provided subsidies and regulatory support for the EV industry.

The country’s overall automobile sector, including electric and internal combustion engines (ICE), is currently the fifth largest globally and will likely grow to the third by 2030. It contributes approximately 7.1 percent of India’s Gross Domestic Product (GDP) and 49% of India’s manufacturing GDP. The automotive sector is valued at $ 22 billion. However, the country’s net worth is only $ 2 billion in 2023 and $ 7.09 million by 2025.

India has the potential to grow electric mobility considerably, particularly in the two-wheeler sector. From 1% currently, India’s penetration of electric two-wheelers is projected to grow by 15 percent by 2025. According to data from the Ministry of Road Transport and Highways in India, there were 13,92,265 total electric vehicles on August 2022. This number is expected to rise to 45-50 million by 2030.

The government can support the EV industry in India by using modern technologies and leveraging them. This will allow the country to increase the number of models, charge infrastructure, develop a vendor ecosystem, and provide financial incentives. The government must address high capital costs and inadequate charging infrastructure if India is to undergo a rapid green transformation. Despite steady growth in EV sales, 63% of Indian consumers still feel that buying an electric car is too expensive.

The government has taken several steps to ensure a robust charging infrastructure. This includes de-licensing charging station installations to encourage the development of charging infrastructure on a priority base. The government also granted permits to private charging stations in offices and residential areas. This lets anyone quickly contact the state or local nodal agency to install a remote charging station. The government also issued a directive allowing EV charging stations to be installed in public areas such as malls, offices, housing societies, restaurants, hotels, and other public spaces.

The safety of electric vehicle batteries has been a priority for the government. The road transport ministry recently established an expert committee to develop strategies for enhancing safety standards in existing battery safety standards. This government move was made in response to the recent incidents in which electric vehicles caught fire in different parts.

The government has changed the EV battery standards to include safety requirements such as battery cells, onboard chargers, and the design of battery packs. They also address thermal propagation due to internal short circuits that can cause a fire. To create a safer and cleaner mobility infrastructure, the transport ministry seeks input from all stakeholders. The government’s various policies and programs have led to a significant increase in electric vehicle production. In India, EV manufacturers have invested more than Rs 9000 crore over the past year.

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