Electric vehicles (EVs) offer a potential solution to our modern world’s environmental problems. EVs run on electricity instead of burning combustible fuel, helping to reduce carbon dioxide emissions that are largely responsible for global warming and pollution. Moreover, they provide a viable alternative to the rapid depletion of natural resources and can be a part of the larger plan of creating a greener future.
Technologies have greatly advanced in recent years in building more efficient EV motors and allowing them to travel long distances; this has encouraged further investments in research and development as well as the production of these vehicles, giving rise to both large global manufacturers and smaller regional players alike. EVs are no longer only dreamed of as far-off technology but are now slowly becoming a reality worldwide.
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Why Electric Vehicles are Boon to India?
The conversation around e-vehicles in India benefits from an urgent urgency. With six of the world’s top 10 most polluted cities situated in India, citizens understand the need to reduce their reliance on fossil fuels and lower pollution levels.
Currently, all vehicles in operation within the country—including two-wheelers and four-wheelers, as well as a few train systems—rely heavily on non-renewable sources of energy. Additionally, 86% of energy needs must be imported using US dollars, decreasing Indian Forex Reserves.
This unsustainable structure will only be overturned by investing in greener transportation technologies like electric cars. E-vehicles could help stimulate India’s economy and improve its air quality by diminishing the number of pollutants emanating from combustion engines.
Electric Vehicles Future in India
Indian customers expect an electric vehicle (EV) to come out in 2023 and keep running until 2025. However, such a goal is difficult to reach because the cost of production in India is very high. For instance, globally, it costs about $36,000 (Rs27 lakh), which poses too big of a financial burden for many Indians.
Not only that, but Lithium-ion batteries account for approximately half of the total expense associated with EVs adding up more money on top of what has already been mentioned – making it even harder to afford one here in India. (EVsSadly, the cost of electric vehicles can be as high as Rs 5.7 lakh, which makes them much more expensive than standard vehicles. Consumers are also apprehensive about investing in EVs due to battery-related explosions and limited charging stations across India. This lack of an appropriate infrastructure raises safety fears and limits potential investments in this technology, a truly unfortunate situation for anyone interested in making the switch!
Electric Vehicles Market Share in India
The Indian automobile industry is steadily making its mark in the world market, recently becoming the fifth largest. With that trajectory showing no signs of slowing, projections suggest the industry might reach the third leading position by 2030. To make this happen, India’s energy demands must evolve to keep up with its rapid population growth. This means transitioning away from traditional fuel sources, as the country imports over 80% of its crude oil. Fortunately, NITI Aayog has outlined a comprehensive plan to integrate electric vehicles (EVs) into society while aiming to achieve net zero carbon emission goals by 2070. According to the India Energy Storage Alliance (IESA), EVs will constitute 70% of commercial vehicles, 30% of private vehicles, 40% of buses, and 80% two-and-three wheelers by 2030, a sharp increase from 2021’s USD 1,434.04 million US EV market value which is expected to grow at a 36 percent compound annual growth rate to USD 15,397.19 million by 2027.
Electric vehicle charging infrastructure
Driving an electric vehicle has advantages like better fuel efficiency and lower emissions. But if you are on the road and your charge is low, you won’t have many places to go. There are comparatively few electric charging outlets in India compared to the thousands upon thousands of gas stations spread throughout 718 districts. While a person driving a petrol-powered car can rest assured they will only be 5-6 kilometers away from their next fill-up, an electric car driver has much further to go in search of a recharge. Though progress is being made toward increasing the availability of charging stations, it’s happening at a slow pace, meaning that it could be some time before drivers of electric vehicles can depend on having quick access to these important sites.
Higher Costs
If a person is looking for medium-sized vehicles within their budget, Maruti Suzuki Swift is an obvious choice. It can be easily available in the petrol version with an on-road cost of around 6 to 7 lakhs, making it highly affordable and thus suitable for the price-sensitive Indian market. However, suppose one opts for Tesla’s electric alternatives. In that case, the pricing goes up to 60 lakhs at least, proving to be a costly option that might not sit reassuringly with many Indians. Although more people would prefer greener options if they were a cheaper, sustainable transition from fossil fuel to clean, energy requires technology which is currently too expensive for the general public in India.
Lack of a Skilled Workforce
India, a country celebrated for its inventiveness and resourcefulness, faces unparalleled difficulty in the electric vehicle sector. Due to new technology advancements combined with inadequate staff training leading to a scarcity of labor experts, our educational institutions struggle to keep pace with worldwide developments in EV technology. India can solidify its standing in the competitive electric car market by taking this vital step. Going forward, creative and adaptive problem-solving will be essential if we remain at the forefront of innovation as global leaders. We must commit ourselves to hone new skill sets to ensure our success.
Limited Technology
India faces an interesting technological challenge. On the one hand, the average Maruti Suzuki Swift Petrol vehicle has a fuel tank capacity of 40 liters. It can cover up to 600 kilometers with an average fuel mileage of 15 km per liter. On the other hand, when it comes to electric vehicles, it is yet to be seen if they can measure up in terms of range. Ather is one of India’s biggest names for electric vehicles, and their cars, like the Ather 450, have impressive specs with a full charge going up to 120 kilometers on Indian roads. It remains to be seen if this magical number of 600 will ever be possible for electric cars or if consumers will have to make do with shorter distances. As such, these questions remain in doubt for the time being.
Import of electric vehicle components and materials
As the demand for electric vehicles rises, India faces unique challenges in transitioning from fossil fuels to greener sources. With a lack of local technology, India must rely on importing most EV supplies, such as batteries and electrical components – the very marrow that enables an EV to run – from China. This dependency renders India’s strategic market in the hands of another country and is particularly problematic when considering India’s uncertainty about its lithium reserves, much of which is necessary for the production of Lithium-Ion technologies that are used to power modern-day electric vehicles. Therefore, bridging this strategic reliance gap is key if India wishes to pursue a green revolution and secure their long-term future and the environment.
Conclusion
Electric vehicles open up a new world of possibilities for everyday commutes and road trips. In addition to being environmentally friendly, electric cars offer superior efficiency, longer ranges than their traditional counterparts, and reduced maintenance fees. Manufacturers are working hard to include the necessary infrastructure for widespread adoption over the coming years. As more electric charging stations become available and automobiles get better battery life and performance, electric cars will continue to be an increasingly attractive option for people looking to save money on fuel. At the same time, they do their part in protecting the environment.