EV manufacturing will bring value addition of $2.7 billion in India
Manufacturing of electric powertrain components and battery pack assembly could produce a 5.7 higher output value addition of worth $2.7 billion for the auto industry in India.
According to a study released by the Council on Energy, Environment and Water (CEEW), to grab the opportunity and to make use of potential India must increase the manufacturing of the electronics and electrical components. This will help India continue its export shares as it will be a global shift towards electric mobility.
EV manufacturing
If we look at the job opportunities in the country, the internal combustion engine (ICE) would increase by 7 per cent between 2018 to 2030, even when India will achieve 30 per cent of EV sales. Further, the auto industry needs to train the people to achieve the goals of transforming ICE to EVs. Therefore reskilling with vocational training becomes tough to achieve the EV sales target.
India moving towards shared, connected & zero-emissions world
The CEO of NITI Aayog, Amitabh Kant said that India is moving towards a shared, connected and zero emissions world.
“The initial cost of EVs is likely to be on par with ICE vehicles in 3-4 years. For India’s auto industry to stay competitive worldwide in the coming decade, we must make India a global centre for the manufacturing of electric two-wheelers, three-wheelers, and compact cars. Innovations in battery manufacturing and setting up Giga factories in the country will also be crucial.”
Importing of battery cells for electric vehicles
The study found that importing of battery cells for electric vehicles would help to bring more favourable trade balance when compared to importing crude oil for ICE cars sales in 2030.
The import burden for one ICE car is 4.1 times high for private vehicles and 5.7 times high for commercial vehicles when compared to the import burden of an EV over its complete life. The study has also found that the CO2 emissions per electric car are 2 to 16 per cent much lower when compared to an ICE car over its lifetime in India.
This will help the environment to be clean and green. Until we have some sufficient EV manufacturing factories, we can import the battery cells in India as it is much better than importing the crude oil for ICE vehicles.
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