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    Future of electric vehicles in India

    Published on October 15, 2020

    By: Ms Monika Singh, Director Exalta

    Electric Vehicles in India is very bright. The planet is suffering from global warming every day for the past lengthy years. This Covid-19, along with lockdown, was a wake-up call for us to take care of our Planet’s health. Everyone should focus on global climate change, as the phrase justifies itself where there is a problem, there is a way. Electric vehicles can be an essential part of playing their role in a better future. It can improve air pollution, climate change, and many more problems at once.

    The Indian government is also taking interest and playing a significant role in this initiation. The government is offering manufacturing zones. That will be providing the latest equipment, cheap power, connectivity, and initiatives like Make in India, to indulge investment into the future. India is trying hard to stop import of petrol, diesel, and crude oil from other countries as majority of it comes in dollar and once we stop doing that, a lot can be saved. Also, we are leading towards manufacturing electricity from solar energy and the Electric Vehicles are the biggest boon in this sector. Interestingly, Indian companies are showing keen interest in the EV category and if we go by the forecast statistics, the industry will witness a huge growth in the next 10 years. 

    EV had a lot of potential in the last-mile delivery segment. EV is the future of last-mile delivery as it is both cost-effective and environment friendly. EV is more comfortable for drivers of short distance because they are quick to start, virtually silent, and smooth to drive. All these features show EVs are perfect for urban driving. As per World Economic Forum, the demand for urban last-mile delivery shall increase by 78% by 2030 which means that there will be an addition of 36%more delivery vehicles in the top 100 cities of the world. The current problem is the storage of the electricity and the charging points which are also being catered now a priority with ultra capacitor, lithium batteries. As soon as the market adopts these along with the fast charging system, then the entire EV segment will be captured.

    India is the fifth most considerable car market in the world. Approximately 600 million vehicles will be on Indian roads by the end of 2030. This is mentioned in India Electric Vehicle Policy2030The crucial role in this e-mobility the transformation will be playing an essential role in the EV battery industry. Market experts predicted that the EV battery has a future of $300 billion in the coming 12 years. Since Manufacturing Li-ion batteries are remarkably vital in India, let us dive into the list of Lithium-ion battery makers that have decided to invest in the future.

    In any case, if our government is unable to achieve significant battery clusters. Then India’s plan to transition to EVs will never be fulfilled. The most challenging part of these overall challenges in EV manufacturing is producing Li-ion batteries. Therefore, the government has to play an essential role in it. Only then the final price of EV will be decreased.