India’s courtship with Electric Vehicles even though was started in 2013 with the National Electric Mobility Mission plan, it is evident that we have not achieved the numbers targeted.
Sure, inroads have been made into the EV space, particularly in the 2 wheeler and 3 wheeler segments. In the last fiscal, 1,56,000 electric vehicles were sold with 1,52,000 being two wheelers.
As a country, India has her own challenges and priorities. The foremost reason for the slow take off of electric vehicles is the cost of the vehicle, with battery being the highest cost item in the vehicle.
Battery replacement cost is another factor which is holding back potential users/buys.
Another challenge is the availability of clean, reliable and quality supply of electricity. To add to that, India’s transmission and distribution losses are around 20% (some studies say it is much higher than that) due to technical inefficiencies and thefts.
So, the solution is small or no batteries, and clean power with no transmission losses. How do we do that?
Green hydrogen, microgrids, clean power generation, renewables.
It is important that India take the right steps in terms of local R&D and investments in this sector. The government too needs to make the right noises and give the right push so that we reach the ultimate goal, an energy secure country with a carbon neutral economy and leaders in clean energy technology.
Reference- Economic Times, National Electric Mobility Mission plan, McKinsey Center for Future Mobility®,