Plug In And Ride In Style : Electric Cars With Zero Down Payment On The Anvil

Plug In And Ride In Style : Electric Cars With Zero Down Payment On The Anvil

“Our Govt’s Aim Is To Empower the Common Man – The Man on the Street; Planning Electric Cars At Zero-Down Payment And With A Pay-Back Period of 7-8 years For The Common Man Of India : Piyush Goyal

Anupama Airy

How about the idea of not being able to visit the petrol pumps every second day to fuel your cars and instead ride in style by simply plugging in to re-charge your cars?

Sounds interesting, isn’t it.

And also imagine the impact it will have on your pockets when you no longer have to worry about the monthly fuel outgo. Eyes already popping out? Yes, you indeed read it right.

Electric cars are being planned for all classes of consumers in India.

“Prime Minister Modi has been very concerned about the environment. We believe that as the days progress and renewable energy becomes more attractive coupled with cost of storage falling in the years to come (this will help us reduce coal-based power plants in the future), we should simultaneously see how we can bring down the expanding demand for petroleum products. So it’s a 360 degree approach to bring down all fossil fuels, going forward. Electric vehicles, particularly on the passenger side, is something which is very much doable. Costs are falling and as storage costs fall and electric cars are made at a larger scale, our estimates demonstrate that we will be able to pay back the costs of the car in 7 or 8 years,” power, coal and RE minister, Piyush Goyal told EnergyInfraPost.com in an Exclusive Interview.

Goyal said the introduction of electric cars in India will reduce its dependence on costlier petroleum products.

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“From the savings of petroleum or diesel imports vis-a-vis the lower costs of electricity will power the car and at the same time while we help the environment, we will also be saving a lot of money for the consumers of India. So all our programs are focused on how we can empower the common man and the man at the street,” Goyal added.

India spends a whopping over $100 billion (or Rs 65000 crore) every year on imports of oil and petroleum products. One of the ongoing efforts of the Mod government is to reduce this burden on account of oil imports.

The focus of the Narendra Modi government on renewable energy, making it an affordable and clean source of power, is slowly but steadily changing the energy dynamics of India. After the massive success of the LED Bulbs program in India—a move that has seen India’s share in the global LED market grow from a mere 0.1% to as much as 12% in less than 12 months and the cost of procurement of a LED bulb fall from over Rs 300 to less than Rs 55 at present, plans are now afoot to launch affordable electric cars in India.

Talking on the timelines, the minister said, “Well I think we should plan to do this by 2030 but all this is still at a very preliminary and concept stage. But we have got some small teams working and exploring the availability of products so that we can scale up such a program.”

If there will be any partners from the Industry assisting the government in this program, Goyal said, “It is too early to comment on this but we are open to all sorts of ideas.”

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“The government is trying to arrange funds for such an initiative…..A group has been formed under Union Road Transport and Highways Minister Nitin Gadkari. Petroleum Minister Dharmendra Pradhan, Minister of State for Environment and Forests Prakash Javadekar and myself as part of this group. Discussions are going on on whether India can become a nation with 100 percent electricity run vehicles by 2030.”

Anupama Airy
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Anupama Airy

Founder and Editor at EnergyInfraPost
Independent Journalist and Energy Expert.​ (Worked with leading mainline financial and national daily for 23 years.​)​ Also, Guest Contributor with busines​sinsider.in
Currently, Writing a Book for Penguin India Titled Greased Pole:How Politics and Lobbying Stifled India’s Energy Dreams. The author can be reached on anupama.airy@gmail.com (9810661825)​
Anupama Airy
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