The government of India launched an ambitious plan to transition to an all-electric vehicular (EV) fleet by 2030. This plan has revved up the Indian automotive industry, in line with the global trends, marking the end of internal combustion engines (ICE). It is evident from the recently concluded India Auto Expo, where most leading domestic and international automakers displayed electric vehicles – bus, cars, motorcycles, and scooters – that the transition to EV has taken off in India.
The driving forces for EV in India
Reduce ever-increasing fuel bill
India is the world’s third largest oil importer; oil import bill is set to touch US$88 billion by 2017-18 increasing by 25% from US$70 billion in 2016-17 out of which 65-70% is used for transportation. By 2030, India oil import bill is pegged to reach US$300 billion causing a major concern for the India government. Accelerated adoption of electric vehicles could save US$60 billion in diesel and petrol costs while cutting down as much as one gigaton (GT) of carbon emissions for India by 2030. Read More…
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