By Manish Agrawal, Founder OnePlug
The study year is set around 2030 where the report is pointing out that once the scheme has been successfully deployed in both the public and private sector, India could witness a deeper EV penetration with 30% of the private and 70% of the commercial cars being completely run on electric power. The same set of numbers e also applicable to public modes of transport with 80 % of three-wheelers and 40 % of busses being used to electric energy. The savings not only comes from cheaper electric vehicles but also takes the form of oil and carbon savings.
Some of the notable highlights from the report are
- Necessary attention should be given to batteries as they are the key cost drivers
- Total savings in terms of oil and equivalent fuels would max out to 5.4 million tones than translates to savings worth of 17.2 thousand crores.
- Electric busses would run down a total of 3.8 billion vehicle kilometers
- FAME II policies and schemes would be extended to vehicles that are not currently present under the radar.
- In order for the system to show its full potential, active participation from the automotive sector, both the private and public players are essential.
- Still customer awareness and domestic manufacturing constraints are a few of the leading problems associated with faster adoption of electric vehicles.
- Incorporating government policy support in areas of emission laws, subsidized pricing and parking policies can make a huge difference when it comes to how faster customers can be influenced for adoption.
With new and new data’s from the market, it would be interesting to see how the Indian market would respond to such opportunities.