It’d be an understatement to say that India’s EV future is merely positive. With the fast-moving developments, evolving consumer sentiments and regulatory policies, things seem to be in EV's favour.
In the last few years, the Indian electric mobility space has seen a slew of developments. With major car manufacturers entering the space, (and many in line to already do so) the consumers are getting equally enthusiastic about the offerings that the space will carry.
India is currently the fifth-largest car market in the world. Moreover, with the current trends, it might even take a spot in the top three. With more than 40 crore people in need of a mobility solution, the new way to move around should definitely be electric
While many might argue that the EVs aren’t ‘mainstream’ yet. But, things are certainly changing. Say, two years back, you wouldn’t have considered an EV when looking to buy a new personal vehicle.
However, today it’s only a rational choice to do so. With the current EVs on offer, at par with fuel-run vehicles (in some cases, even better) the additional attention to this space has turned the tide around.
But, are EVs a feasible solution in the country’s fight against pollution and climate change? If yes, then what does India’s EV future look like? Let’s figure it out.
Here are ten things you can expect and take into consideration, pertaining to India’s EV future.
A Buoyant 2021 for India’s Electric Vehicles
2021 was a year full of buzz and uplifting news for India’s EV sector. With Tesla entering the Indian markets, and EV sales seeing an all-time high record, it was an overall optimistic year of major developments.
This was followed by further policy changes by the central and state governments as well, to promote EV adoption. In September 2021, the Central government announced the Production Linked Incentive (PLI) program for automobiles and auto components, which is expected to garner investments worth $5.72 billion in the next five years and create over 750,000 jobs.
The Indian carmakers and the government policies working in tandem with one another have turned out to make 2021 a year worth looking back at.
Coming up with an EV charging infrastructure is a challenge as well as an opportunity at the same time. In recent years, with the adoption of EVs picking up pace, several residential complexes, shopping malls, and other commercial establishments have included an EV charging station in their final plans.
According to a proposal by the Ministry of Power, at least one charging station has to be present in a grid of 3 kilometres and at every 25 kilometres of a highway, on both sides. Adding to this, the Ministry of Housing and Urban Affairs, under the Model Building Bye-laws, 2016 (MBBL) has mandated setting 20% of the parking space in residential and commercial establishments aside for EV charging facilities.
With necessary steps being taken by the state as well as the central governments, a thorough implementation down the line can help make a difference. An EV charging infrastructure that can cater to the growing demand, can remove the accessibility and logistical stigma around EVs in India, helping set the stage right for India’s EV future.
The 2 & 3 Wheeler Market Push
While the major car manufacturers around the country are making their best moves by offering top-notch EV options, it’s the 3–wheeler EV market that helped strengthen the consumer base.
According to NITI Aayog, EV sales penetration is touted to reach as high as 80% for two and three-wheelers by 2030. Providing impetus to such campaigns are the proactive measures by state governments.
Delhi government’s ‘Switch Delhi’ campaign, for instance, saw a great response with an increase in registration of two-wheeled electric vehicles. The campaign primarily hopes to increase awareness around three-wheeler electric vehicles to promote them as a credible method of public transportation.
Entry of Major Manufacturers
With the entry of major ICE (internal combustion engine) car manufacturers into the EV space, there has been an increased sense of trust and reliability. Considering the fact that these manufacturers enjoy an already present market share and customer loyalty and trust, their job is halfway done.
This can be considered a major milestone when compared with a situation in which a newly launched brand would’ve entered the market. Not only do these existing manufacturers have a higher ability to take risks, but the consumers look up to offerings from such brands as well, owing to their market reputation.
India, It’s Your Time To Electrify!
With the facts mentioned above, India is certainly on the path to an EV revolution.
While India gets ready to adopt EVs and embrace them with enthusiasm, we at BluSmart are already on our way to bringing in a mobility revolution in the country. With more than 1.75 lakh zero-emission rides completed, we’re striving to bring in the smart way to travel while being easy on the climate.
Want to join the #BluRevolution? Join now!
With inputs & statistics from