The electric vehicle space is developing steadily in India. Although in its embryonic phase trade markets expect rapid growth creating a revolutionary curve with an estimated market of 2 million units by 2030. This growth will be driven by a lot of reasons such as the increase in the availability of charging infrastructure, reinforcing Governmental policies and initiatives, the latest technological advances in the manufacturing industries, etc. However, a cleaner and greener future is a clear winner for the reason to adopt electric vehicles for a pollution-free country.
Why Electric Vehicle Adoption has Become Imminent?
1. Screaming Environmental Conditions
According to a WHO report, India is home to 14 of the top 20 most polluted cities in the world. An increasing number of vehicles on roads led to a spike in air pollution levels in India’s major cities. Having already crossed the permissible limits on particulate matter and carbon emissions, Indian cities like Delhi are screaming for better air quality for sustenance. Many state governments and also the central government have identified benefits and started incentivizing passengers and vehicle-owners to commute by less-polluting or electric vehicles. Several government initiatives have been taken to boost ride-hailing also known as vehicle pooling to help the mobility sector curb its emission and pollution rate. According to Niti Aayog, a government policy think-tank, India is all set to go all-electric by 2023. A target of 2023 is estimated for all-electric three-wheelers, 2025 for two-wheelers, 2030 for four-wheelers.
2. Disruptive Business Models
While initiatives are implemented by the governments, their impact is still at an early stage. A more unified effort from different sectors including that of the manufacturing industries, AI-based platforms, business solution providers along with regulatory support can enhance the benefits for all. An increasing number of innovative solutions have been emerging in India such as self-driven car rental services that are proof of an impactful model. Some of the very successful models are ride-hailing platforms like Ola and Uber, self-drive rentals, etc. which have totally emerged and changed the mobility sector making a screeching entrance into the last mile connectivity, shared, connected and electric mobility space.
Disruptive business model space in India is being explored by many key players. Although it is mostly a grey area, many companies are looking for opportunities in this unknown area so they do not lose out on the market when it takes off. For example, Hyundai has set up a data center in Chennai to gather feedback from working groups to develop new business models for shared mobility, electric vehicles, and connected mobility and make them accessible to a larger section of the population who buys automobiles. Smart mobility solutions include three main important points; Clean Mobility, Free Mobility, and Connected Mobility.
3. An Industrial Shift
“It is a very unusual time for the global automotive industry. The likes of Tesla, Google and Apple are defining new ways in which a car can be consumed,”According to VG Ramakrishnan, MD, consultancy firm Avanteum Advisor.
For any industry to flourish the focus needs to shift from what is already in play right now to proactively change with the market and innovate to give better value to the customers.
In line with the upcoming disruptive models like rentals and rideshares, the automobile manufacturing sector also needs to increase its contribution through purpose-built vehicles. These new-age vehicles should be able to offer redressal to issues pertaining to emissions, running costs and efficiency. An additional thought on optimizing engine powers with simpler and easy to clean interiors can benefit due to their easier assembly processes with lower distribution costs. The app-based ride-hailing services have changed the way we travel and the service extensions to more regions can boost the sector’s growth. However, in order to beat challenges like congestion, emission, and costs, electric vehicles are the best solution.
Improvements in mobility sectors have got us faster, safer, smarter, efficient performances of the vehicles over the years. Today, the industry is refocusing towards using technology to ensure that well connected and cleaner mobility is available to all. Resources like fuels and land spaces that are diminishing day by day push the industry to expand and stretch their horizons to build better solutions to go beyond stylish vehicles and create a world where mobility enhances the quality of living.
A paradigm shift in the development of new-age electric vehicles, technological developments in making better batteries and charging infrastructures along with newly created network models like ride-sharing and go green mobile ecosystems that are supported and encouraged by governmental and policymakers for a cleaner India is certainly playing a major role in the increased Electric vehicle adoption rates building a “New Mobile India”. The electric vehicle revolution in this New India will make sure we leave a minimal carbon footprint and preserve the environment for our future generations by adopting clean and convenient mobility.
Electric Vehicle Adoption in Telangana
Electric mobility and vehicle adoption are now seeing rapid growth in the two Telugu states. Telangana keen to add to the central governments’ policy of Faster Adoption and Manufacture of Electric Vehicles (FAME) II has already launched its own electric vehicle (EV) policy. The state has announced that EV owners are exempted from road tax. The Telangana State Electricity Regulatory Commission has pitched in to create a separate tariff structure for EV charging and battery swapping stations making it easy for the EV consumer. The Hyderabad Metro Rail Limited and Telangana State Road Transport Corporation (TSRTC) have also helped by setting up charging stations to encourage the adoption of EVs. Hyderabad now stands as the city with the second-largest number of charging stations after Bengaluru but with the Central government approving 138 EV charging stations for the State this week, the numbers will increase making it the largest. Telangana State Renewable Energy Development Corporation Ltd (TSREDCO) has already started the process to set up these charging stations in and around the HMDA-ORR (Hyderabad Metropolitan Development Area- Outer Ring Road) areas out of which some will be solar-powered charging stations.
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