EVs-Reasons for slow growth
Electric Vehicles are growing everywhere, the transition from the internal combustion engine (ICE) vehicles or fuel based vehicles to electric is taking place slowly but steadily around the world.
Its time for India to opt for Electric Vehicles
The mass adoption of electric vehicles is been done mainly in developed countries. If we notice the adoption of electric vehicles (EVs) is not that easy. It is a big challenge that almost all countries are taking.
Talking particularly about India is witnessing the electric mobility revolution. With the aim to reduce the carbon emissions and to take an opportunity for economic growth. Recently national budget has seen India making an investment into EVs of $US 1.2 Billion. All OEM (Original Equipment Manufacturers) announcing the launch of new electric vehicles models.
The Indian government is also a huge support for EVs, its bringing in many initiatives and through FAME II scheme it is providing subsidies to promote and encourage the use of electric vehicles.
The need to transform to the electric mobility needs a collaborative approach to accelerate large scale adoption of electric mobility. India needs to identify the opportunities and challenges can be the first step in the process of transformation.
The Electric vehicles sales in 2017-2018, both two and four-wheelers, According to the SIAM, SMEV data, the sales of EVs in 2017-2018, both two and four-wheelers is less than 0.3% of the total new vehicles in India.
As per the FAME II, the EVs sales target is 1.5 million EV sales by 2022, then the share will be only 2%. If the growth number goes like this, then how the country will achieve its goal of 30% electric vehicles by 2030.
India ranks at the 4th position in the automotive industry. The sales of ICE cars alone accounts About 3.4 million registered in India between January and December 2018. The Sales are increasing to 9.5 percent every year to 4.02 million units excluding the two-wheelers in 2017 whereas Global sales of passenger cars are forecast to hit 78.6 million vehicles in 2017.
What could be the reasons for the slow growth of EVs?
EVs-Reasons for slow growth
The first and foremost reason is the price of an EV
The EVs have high purchase price when compared to ICE vehicles. An electric vehicle costs you between 1.5x to 2.5x of the ICE equivalent model.
Charging anxiety
The lack of charging infrastructures in India, there are many EV charging infrastructure launch or installations going around in India but are they into operations? No.
No incentives
No incentives are provided to four-wheeler (for personal use), as I mentioned before the sales number of ICE cars is huge.
This was about four-wheelers, the two-wheelers and three-wheelers makers must make use of the incentives provided by the government.
Recently, the Niti Aayog made a proposal to transform the ICE two-wheelers and three-wheelers to 100% electric vehicles (EVs). The three-wheelers by 2023 and two-wheelers by 2025.
To this proposal, the big and leading manufacturers such as Hero, TVS, Bajaj and Honda opposed the NITI Aayog’s EV transition decision. Instead of making excuses, they would have accepted the transition and cooperated with the government’s move. Its time for India to get out of that dirty pollution caused by the vehicles since ages.
There are many reasons for the slow growth of EVs in India, but here I mentioned just three major EVs-Reasons for slow growth.
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