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The growing environmental consciousness and seeing the adverse effects of global climate change, the governments in India are supporting initiatives for development of eco-friendly mobility solutions including electric vehicles. . The National Solar Mission would promote the utilization of solar power for power generation and other applications. Even Indian industry has haunted these issues seriously. Energy efficiency has become the highest most agenda for Indian companies also. Big automobile companies are developing electric vehicle technologies and/ or buying smaller electric vehicle companies to organize for the longer term.
The WHO report said 14 of world’s 15 most polluted cities were in India which incorporates Delhi, Kanpur and Varanasi.
In light of the growing pollution problem, the Government of India, over the last few years, has been increasingly promoting alternative mobility solutions, chief among which are electric vehicles. Because they are powered by electricity and not fossil fuels, EVs are relatively emission-free and therefore, hold the key to India‟s burgeoning air pollution issue.
India has big plans for the emerging Electric Vehicles and its technologies within the country. It‟s announced ultimatums for subsequent decade. India has huge expectations of achieving a high level of penetration in e-mobility by 2030. The rationale isn’t very surprising; the alarming levels of pollution indices which keep it up rising and therefore the colossal dollars the country must buy annual petroleum imports. If India successfully manages to realize this target by 2030, it could save about 1 Giga Tonne of emissions. Low carbon scenario with „highest‟ EV penetration shows 50% drop by PM 2.
5 by 2035.
India, the world‟s third-largest energy consumer after the US and China and emerged because the seventh-largest manufacturer of economic vehicles. Assuming the acceptable infrastructure is in situ, 90% car owners in India are willing to modify to EVs, consistent with a survey by the Economic Times in May 2019. at the present , however, EV penetration is merely 1% of total vehicle sales in India, and of that, 95% of sales are electric two-wheelers.
Realizing the potential of EVs, the Indian government has also announced plans to make the country a 100% electric vehicle nation by 2030. To that end, in January 2017, the central government said that it would bear up to 60% of the research and development (R&D) cost for developing the indigenous low-cost electric technology.
Indian EV Market Segment:
India‟s emerging electric vehicle (EV) industry has taken a leap by selling quite 7.5 lakh units within the fiscal of 2018-19, consistent with a modern data compiled by the Society of Manufacturers of electrical Vehicles (SMEV), an association of Indian manufacturers of EVs and their components. The EV charging infrastructure is required to spice up EVs within the country. India intends to possess a sizeable share of EVs within the vehicle strength by 2030, which is in line with its commitment to scale back emission intensity by one third from the extent of 2005.
There three segments – Two-wheelers, Three-wheelers and Four-wheelers.
For the first time, the EV industry registered a growth of huge 31.8 per cent in 2018-19, as compared to the previous financial year, the report says.
Changes of EV Market in India:
Electric Vehicles in India are still relatively new. They account for just I Chronicles of the entire vehicle density. India introduces the „National Electric Mobility Mission Plan (NEMMP) 2020‟ in 2013 to deal with the problems of national energy security, vehicular pollution, and the growth of domestic manufacturing capabilities.
“We are getting to introduce electric vehicles in a very big way. We are getting to make electric vehicles self-sufficient like UJALA. The idea is that by 2030, not one petrol or diesel car should be sold within the country,” Power Minister Piyush Goyal said while addressing the CII Annual Session, 2017.
India imports quite 80 you look after the petroleum it uses. The shift towards electric vehicles will have a positive impact on the economy also because of the environment. The planned shift also will reduce the mammoth number of road fatalities that occur in India, with the arrival of automation.
While you might see a lot of e-rickshaws zipping across the narrow lanes of Karol Bagh in Delhi, a major shift has yet to arrive towards Electric Vehicles. Only a couple of electric cars are available within the market, and therefore the small-vehicle market remains dominated by conventional vehicles.
Charging stations are being built at government offices, malls, and even within Locality. Government-owned power companies like Bharat Heavy Electricals and Energy Efficiency Services decide to begin rolling out charging stations soon. The latter is watching 10,000 stations over the subsequent two years.
Electric Vehicle Market Challenges in India
In addition to charging points, the shortage of personal parking spaces is additionally noted as a hindrance for electric vehicles adoption, and therefore the lack of affordable renewable energy means charging Electronic Vehicles is putting a toll on the already stressed coal-powered electricity grid. Consistent with auto giant Maruti Suzuki‟s research, 60% of Indian customers doesn‟t have their own parking lot. “There is not any way they will charge the vehicle, therefore they won‟t adopt it,” said C V Raman, senior executive (engineering) of Maruti Suzuki India.
Further, the typical cost of electric cars in India is around INR 13 Lakh, much above the typical INR 5 Lakh for economical cars run on traditional fuel. Also, the worth of electrical scooters and motorcycles in India is between the worth range of INR 70K – INR 1.25 Lakh, as compared to INR 30K – INR 40K cost range of ICE bikes and even lower for scooters.
While nobody doubts that the Indian government is doing all it can to push EVs, the Faster Adoption and Manufacture of (Hybrid) And Electric Vehicles (FAME) policy have been criticized by the industry within the past. The Government had initially focussed on vehicle standardization with FAME, which was side-lined for stress on manufacturing. At the instant, the Government is busy drafting an EV charging infrastructure framework. The Government is additionally getting to tax non-electric vehicles heavier albeit the sales of electric vehicles won’t justify such a forced transition.
Range anxiety is what consumers suffer from knowing that the electrical vehicle won’t have sufficient range to require them to their destination. This is often deeply linked to the shortage of charging infrastructure within the country, and while conventional vehicles are often refuelled at petrol stations, such regularised infrastructure isn’t yet available for EVs.
Objective and Purpose:
Scope and Structure of Electric Vehicle Market in India:
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