E-buses To Account For 11-13% Of New Bus Sales By FY2025: ICRA
India is on the verge of a transportation revolution, where electric mobility (EV) is not just a trendy term but a symbol of sustainable progress. Amidst global efforts to reduce carbon footprints and greenhouse gas emissions, India's robust automotive industry, a key player in the nation's economy, is leading the charge towards a greener future.
Resilience Amidst Challenges: Despite the challenges posed by the COVID-19 pandemic, India's automotive sector has shown remarkable resilience. Rather than just recovering, it is rapidly advancing towards a future marked by technological disruptions and sustainability.
This important shift is a result of government policies actively encouraging the transition from traditional internal combustion engines to electric vehicles.
Make in India aligns with electric mobility.
The "Make in India" initiative, designed to position India as a global manufacturing hub, now aligns with the nation's electric mobility goals.
The automotive sector, a major contributor to manufacturing GDP and an employer of millions is tasked with the dual mission of fostering economic growth and addressing environmental concerns through sustainable practices.
Electric Vehicles as the Solution:
Electric vehicles (EVs) emerge as a solution with the potential to significantly reduce carbon emissions.
The transition to electric mobility is driven by concerns related to energy security, manufacturing dependencies, and the environmental impact of widespread carbon emissions.
Recognising the economic imperative, especially in a sector heavily reliant on imported oil, India is actively promoting EV adoption.
FAME Initiative:
The Government's Proactive Approach: The government's Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) initiative exemplifies India's commitment.
With advancements in battery technology and the incorporation of renewable energy sources, India is poised to become a global example of sustainable mobility through this policy framework, which aims to build a robust EV market by encouraging domestic production and expanding charging infrastructure.
Global Leadership at the G20 2023:
As India hosted the G20 in 2023, it took a leading role in addressing global challenges, emphasising electric mobility as a key agenda item. The nation's efforts are aligned with the theme of "One Earth, One Family, One Future," emphasising the shared destiny of the international community in combating climate change and promoting economic recovery.
Accelerating Towards Vision 2030:
India's electric mobility ecosystem is firmly steering towards Vision 2030. The journey ahead is characterised by innovation, collaboration, and an unwavering commitment to sustainability. This transition is not merely about changing transportation methods; it is a testament to India's dedication to shaping a future that is both economically vibrant and environmentally conscious.
