Rapid technological evolution is driving the shift towards shared, connected, and zero emissions transportation systems around the world.
Rapid technical advancements:
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Vehicle battery technology: Prices have fallen by almost 84% in the last decade.
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Internal combustion engine (ICE) vehicles vs Electric vehicles: Parity in the cost of ownership has been achieved in all vehicle segments within a five-year time span.
Government’s efforts:
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Production-Linked Incentive scheme: Marked out an outlay of Rs 18,100 crore for advanced chemistry cell batteries. It will battery manufacturing ecosystem in the country.
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Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME-2): Under phase 2, as many as 2,636 charging stations across the country and 5,595 electric buses have been sanctioned
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Tax incentives:
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Reduction in Goods and Services Tax: on EV, from 18% to 5%.
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Income-tax deduction: of Rs 1.5 lakh, to speed up the transition from ICE vehicles to EVs.
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Exempted customs duty: on certain parts of EVs and capital goods used in the manufacture of Li-ion.
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Draft for amending building code and town planning rules: to let EV-charging stations be provided in private and commercial buildings.
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A concessionaire agreement (by NITI Aayog): for public-private partnerships in the operation and maintenance of electric buses in cities on the operating expenditure (OPEX) model.
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15 states have come up with EV policies—including incentives such as single-window clearance, stamp duty waiver, and incentivized land and electricity.
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Done away with the mandatory requirement of spare tyres in cars: which would provide extra space for EV batteries.
Way forward:
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Focus on moving people rather than vehicle: Through public transportation and its electrification instead of personal mobility.
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Identify the crucial segments: which includes two-and-three wheelers and buses.
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Harmonize efforts with the Indian information technology (IT) industry as the electric mobility revolution is driven by power electronics, artificial intelligence and automation.
Conclusion: Exceeding targets for renewable energy generation along with the adoption of EVs, will help achieve a cleaner environment.