The Scenario Of Evs And What Will Be The Upcoming Trends, Challenges And Opportunities
EV OUTLOOK
It’s no longer a secret that the world is facing major challenges. Vehicular pollution, climate change, resources are depleting and the air we breathe is adversely affecting the health of our citizens. Transportation is the most prominent factor contributing to the increased pollution level which is directly proportional to the levels of carbon emission. Conventional transport vehicles constitute nearly 30% of particulate pollution in metro cities. Logistics industry thrives on transportation and digital technologies are now reshaping the logistics space, this is why the society has woken up to the threats of carbon emissions and threats to the planet from combustion engines and the only answer lies is, in – Electric Vehicles which will transform the mass transportation in India. Electric vehicles are an incredible and optimized solution to so many of the challenges we have in urban areas. Zero carbon emissions are high on the agenda of almost every smart city and progressive nation on Earth.
EV Industry in India is taking small steps towards making India’s EV plans a reality. While concerns related to infrastructure and technology continue to prevail in the Industry, Government and Private players are doing their bit to ensure India achieves its e-mobility dream by the year 2030. The future of work is automated and digital too. It is an electric future whichever way you look. The attraction of this future resembles a closed loop of natural energy and sustainable thinking alongside the creation of new work as old systems and ways of working and thinking are overtaken by new technologies and tools.
Countering the effect of traditional logistics practices, Green Logistics attempts to measure and minimize the ecological impacts of such services. Companies are at the forefront of driving electric innovations that will impact the environment and economic sustainability through first and last-mile logistics solutions catering to the E-Comm and Foodtech sectors. Adoption of transformative strategy relating to the use of Electric vehicles can fulfil the promise of reducing carbon intensity for a sustainable future. Electric vehicles are the nearest alternative to reduce emission levels globally.
“On statistics basis ; a fleet of 250 EVs will save
around US $1 Million worth of fuel and can reduce the carbon emission by 4000 Tonnes annually.”
Based on the above, India's commitment made during the Paris Summit can well be achieved by limiting our dependency on fossil-based vehicles and moving towards cleaner and greener ELECTRIC VEHICLES.
OPPORTUNITIES
After China, India offers the greatest potential for EVs, mainly 2 & 3 wheelers, which occupy significant road space in India. In perspective, 80% of the vehicle population in India comprises of these two. In numbers, that would mean close to 170 Mn. All these vehicles can possibly be converted into Electric platform as they do not require elaborate technology infusion. After these, Buses come next in line followed by Cars.
Close to 21 Mn 2 & 3 wheelers are sold in India every year. The reasonable estimate is taken by the GOI for converting 1 Mn 2 wheelers & half a million 3 wheelers look within grasp (Ref. FAME II guidelines). Once these numbers come on the road, with a high success rate, it would have a multiplier effect on the growth in this sector.
CHALLENGES
A major challenge is putting vehicles on the road which refers to getting the Electric Vehicles financed. There is a need for policy intervention on the financing of EVs.
EVs currently don't enjoy the availability of related charging infrastructure, so the overall cost advantage is minuscule right now, but with economies of scale and subject to proper charging infrastructure, the logistics cost could reduce remarkably in future. This can be addressed by setting up charging and swapping infrastructure, wherein govt. needs to play an important role to increase the range and penetration of these vehicles.
Another major concern is the duty cost on motors, controllers etc, which could be lowered to boost manufacturing of EVs.
Environment protection and sustainability objectives are the major indicators of a Country’s Economic health.
