INDIA’S ELECTRIC VEHICLE PUSH WILL LEAD TO BRIGHTER, GREENER FUTURE

The push for EVs is driven by the global climate agenda established under the Paris Agreement to reduce carbon emissions in order to limit global warming.

India is the fifth largest car market in the world and has the potential to become one of the top three in the near future — with about 40 crore customers in need of mobility solutions by the year 2030. That is one side of the coin. The other side is that the country needs a transportation revolution. The current trajectory of adding ever more cars running on expensive imported fuel and cluttering up already overcrowded cities suffering from infrastructure bottlenecks and intense air pollution is unfeasible. India’s cities will choke. A transportation revolution will have many components — better “walkability”, public transportation, railways, roads — and better cars. Many of these “better cars” will likely be electric.

The transition to electric mobility is a promising global strategy for decarbonising the transport sector. India is among a handful of countries that supports the global EV30@30 campaign, which aims for at least 30 per cent new vehicle sales to be electric by 2030. Prime Minister Narendra Modi’s advocacy of five elements for climate change — “Panchamrit” — at the recently concluded COP26 in Glasgow is a commitment to the same. The PM espoused various ideas, like renewable energy catering to 50 per cent of India’s energy needs, reducing carbon emission by 1 billion tonnes by 2030 and achieving net zero by 2070, so that future generations can lead secure and prosperous lives.

The push for EVs is driven by the global climate agenda established under the Paris Agreement to reduce carbon emissions in order to limit global warming. It is also projected to contribute in improving the overall energy security situation as the country imports over 80 per cent of its overall crude oil requirements, amounting to approximately $100 billion. The push is also expected to play an important role in the local EV manufacturing industry for job creation. Additionally, through several grid support services, EVs are expected to strengthen the grid and help accommodate higher renewable energy penetration while maintaining secure and stable grid operation.