The Rise of Electric Vehicles: Powering India’s Future Transportation and the Road to 2030
There has been robust growth in the global automotive industry over the last 2 years. Mobility solution providers have been building on future transport ideas to boost automotive sales, mobility innovation and research. There has been no looking back ever since the COVID-19 pandemic as the industry remains strong and India continues to lead the way.
The push for clean mobility and growth has been optimistic. There has been a decade of automotive disruption for electric vehicles across the globe. Europe and China have been leading the way and India has been fast catching up and making a dent in the electric mobility space. In India, the adoption of electric vehicles can disrupt the automotive market globally through electric scooters, electric vehicle charging stations and other mobility tech.
G20, Delhi Declaration and Electric Mobility
So, what was the New Delhi Declaration at the G20 all about? With a focus on strong sustainable growth, accelerating the need for sustainable development goals (SDGs), improving multilateralism and enhancing the green development pact.
The crucial highlight to this declaration was Goa’s Roadmap for Tourism as a way of sustainable socioeconomic development and economic prosperity. This is one resolution that was adopted as one of the progressive ways of achieving the SDGs.
From Congestion to Connectivity: How Technology and Policy Making is Shaping India’s Mobility
The NITI Aayog conference on the “Policy Support & Enablers to Accelerate India’s Electric Mobility” created the effective roadmap for electric mobility in India. This enables stakeholders to use a common platform set by them to showcase India’s electric mobile ecosystem and the way forward.
At the same time, the fourth Energy Transition Working Group (ETWG) meeting brought India to the centre stage to solve for the electric mobility solutions and the path ahead. Several electric vehicles have been launched ever since and these visionary initiatives have been aimed to revolutionise public transportation in India. Several dialogues have been convened to innovate and build an effective electric mobility landscape. This involves infrastructure, technology, investments and all the means to make the EV revolution a roaring success.
Today, the electric vehicle is set to grow at a compound annual growth rate (CAGR) of 49% from 2022 to 2030. Aiming for 30% of the EV market share, India is pushing to ensure the 2030 target is met. The EV growth will positively impact the country’s economy through its social and environmental benefits and impact the 2070 net zero vision.
Goa looks to spearhead this EV movement as it will mandate that all new tourist vehicles will be electric by 2024. This means that all rental cars, scooters and bikes will be electric and that by June 2024, 30% of the entire vehicular traffic would be electrified through retrofitting.
Currently, India is one of the top producers of greenhouse gases and emission. The Ministry of Road Transport and Highways will target 30% newly registered private cars, 40% of buses, 70% of commercial cars, and 80% of 2-wheelers and 3-wheelers will be electric by 2030. This framework will help ensure that the electrification of this sector will rapidly reduce emissions in the country. With over $6 billion being invested in 150,000 new jobs, several states and the national government are pivoting towards a more inclusive and opportunistic approach.
Implementation of the 2023 EV policy
Without a sense of clear implementation, usually plans don’t go out the way it should on the ground. But, the 2023 EV policies address the implementation plans, the institutional structures and the process of single window facilitation. This outreach will help build effective communication, work towards policy implementation and monitor progress.
The goal of the 2023 EV policy will ensure that representatives collaborate. This includes representatives from the state departments, academic institutions and experts in the field of technology who can work together on a broader scale. This helps with better implementation, enhanced coordination, resolving conflict and measures as mentioned in the policy
The policy has also mandated the creation of an EV Steering Committee alongside the EV Cell. The policy mentions that the Steering Committee would include representatives from various state departments, city agencies in the EV cities, academic institutions, and technical experts. Additionally, it will be crucial for the EV Cell to also include these representatives from various stakeholders to ensure faster coordination, conflict resolution, and implementation of measures outlined in the policy.
Smart Cities and Smart Transportation: Paving the Way to 2030
There are several questions that come to mind based on whether it’s an opportunity for investment, creating a better society, financial services inclusion and sustainability goals.
Ask yourself, how are these organisations going to build the mobility landscape and how are they going to invest? In the process, will this lower the number of accidents, improve accessibility and air quality with future mobility trends? Finally, what are the foundations that need to be laid for the path to financial services in the mobility ecosystem? Additionally, will sustainable development goals be the rock on which smart cities and its subsidiary services are built around?
Gadkari envisions that by 2030, there will be two crore electric vehicles on Indian roads. He added that India has the opportunity in electric and future mobility. This will help save ecology, bring in sound investment,reduce pollution and help with employment generation. In the process, this will bring about the growth to the country’s economy and engage in further wealth creation.
Why can our products help as a mobility solution provider?
Let’s talk about vinoth, one of our customers that initially bought one scooter and after three months went on to buy 6 more for his egg delivery business. Initially, he was spending over Rs.200 per day for each scooter for petrol and there were several breakdowns that proved costly.
After he bought his inGO Flee, he now saves about Rs. 6,000 every month on each bike that he bought and will get his return on investment within 6 months. He can now track where his deliveries are and the cost has dropped significantly as he can deliver on the spot instead of scheduling deliveries for customers. Now that his traction has increased he plans to open 5 more stores based on the increase in sales. Book Flee now
Our model for a sustainable future stems from our objectives
With a vision to champion a green planet through innovative technology, we look at working at sustainable development goals and building for the future.
While our mission is to be amongst the top companies providing complete electric mobility systems, with in-house technology, through innovation & passion, while building best in class, purpose built vehicles for India.
We aim to see ourselves touch the hearts of every Indian. It’s time to build EVs that will take over 30% of all vehicles on the road and we should support that mission. By 2030, the declining fuel demand will become evident as EV tech will be sustainable and integral. There has been notable growth in registered EVs since 2022 as the number of vehicles tripped to 1.01 million for two and three wheelers. During the months of January to July, nearly 5 lakh vehicles were sold and this was an impressive 59.51% in terms of year on year growth.
Let’s champion the electric revolution! Book now