A review about EV sector and EV policies in India

Posted by Global technology interface on December 10, 2021


The Indian automotive industry is the fifth largest in the world and is slated to be the third largest by 2030. Catering to a vast domestic market, reliance on the conventional modes of fuel intensive mobility will not be sustainable. By making the shift towards electric vehicles (EVs), India stands to benefit on many fronts: it has a relative abundance of renewable energy resources and availability of skilled manpower in the technology and manufacturing sectors.

 

According to an independent study by CEEW Centre for Energy Finance (CEEW-CEF), the EV market in India will be a US$206 billion opportunity by 2030 if India maintains steady progress to meet its ambitious 2030 target. This would require a cumulative investment of over US$180 billion in vehicle production and charging infrastructure.

State Government EV Promotion Policies

Over 14 of India’s 28 states have finalized or are in the process of finalizing EV policies that support the national electric mobility policies. Andhra Pradesh, Karnataka, Kerala, Madhya Pradesh, Maharashtra, New Delhi, Tamil Nadu, Telangana, Uttarakhand, and Uttar Pradesh are among the states that have endorsed EV policies. Bihar, Gujarat, Himachal Pradesh, and Punjab are among the states with draft policies. Nearly all state EV policies prioritize two- and three-wheelers, public transportation, and job creation. However, the policies differ in terms of targets, supply-side incentives (manufacturing), and demand-side incentives (consumer and charging infrastructure investments).

 

Challenges:

A major challenge for EVs is their limited range compared to ICE. Overall operating costs are often lower, but when you factor in the availability of refuelling options, speed and convenience, ICE still has the advantage. EVs take much longer to recharge and run out of power faster. This challenge has to be addressed in order for the great reach among common people.

 

GBI is building an EV ecosystem connect platform focused on technology and innovation transfer between Europe and India. This platform is being developed under the aegis of the Enterprise Europe Network (EEN). The partnership has been designed to encourage private sector cooperation between both sides through EU and Indian business networks for enabling private investment and developing global and regional value chains.

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