At the COP26 summit, Prime Minister Narendra Modi pledged to reduce India’s carbon intensity by 45% by 2030 and achieve net zero by 2070, implying that increased adoption of electric vehicles (EV) is the only way to go.
In addition to being a sustainable mobility solution, electric vehicles can play an important role in the economy, from filling gaps in public transport networks to electrifying last-mile connections. Mobility is essential for a country’s economic prosperity. Rapid urbanization and population growth have increased the demand for mobility and travel, driving the demand for vehicles.
However, the increase in the number of motor vehicles has affected air quality, increased traffic congestion and increased the country’s dependence on crude oil imports.
The world is currently facing major natural disasters, with global warming topping the list. Since vehicle pollution is a major cause of global warming, clean transportation could be a game-changer.
Electric vehicles are the way of the future and electric bicycles will become the most popular means of transportation, which will lead to a gradual reduction in air pollution.
According to a report by KPMG India, about 50 million electric vehicles will be on the road by 2030! With the ‘quiet revolution’ of electric vehicles, the global automotive industry is currently undergoing a paradigm shift as it seeks to transition to alternative, less fuel-intensive options.
The country is also encouraging investment in the transition to electric vehicles. One of the main drivers behind India’s recent moves to accelerate the transition to electric vehicles is the burden of oil imports, rising pollution and international commitments to tackle global climate change, as electric vehicles they are a better alternative to vehicles with an internal combustion engine.
India is making electric vehicles more efficient across the country by making them more accessible. While the two- and three-wheeler segment has the highest demand for these vehicles, automakers are either launching models now or announcing plans to do so in the near future. Experts believe that with the right incentives, initial acquisition costs will decrease as developments in battery technology drive down the price of batteries.
India’s path to net zero
India’s net zero target for 2070 clearly demonstrates its intention to pursue decarbonisation by committing to reduce the economy’s projected carbon emissions by 1 billion tonnes by 2030. While it offers a path clearly for India, the cross-sectoral contributions of countries, industries and companies are essential. to make it come true.
The automobile industry is one of the major sources of emissions in India. To achieve its net zero emissions goals, India needs to make this sector a priority. If fleets are not electrified immediately, transport-related emissions will skyrocket by 2050, playing a major role in accelerating climate change.
A full push for electric vehicle adoption could be just what India needs to meet its targets, or nationally determined contributions (NDCs), set under the 2015 Paris Agreement. India has committed to produce 50% of its electricity from non-fossil sources by 2030 and to reduce the emissions intensity of its GDP by 45%.
conclusion
India is poised for mass adoption of electric vehicles due to rising incomes and urbanization, coupled with mobility gaps and environmental awareness. Government support, collaboration between ecosystem players and development of new business models are expected to be the key pillars as India embarks on its vehicle adoption journey electric
EV adoption is attracting value-conscious Indian consumers, climate-conscious industry and government agencies, and disruptive ecosystem players looking to leverage innovation to challenge incumbent auto operators. Ultimately, mass adoption of electric vehicles will play a key role in bridging the existing mobility gap and driving India towards a sustainable mobility future.
Exemption from liability
The opinions expressed above are the author’s own.
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