Future of Electric Vehicles in India: Is India ready for the change?

Future of Electric Vehicles in India

Ever since Tesla announced their launch in India, people have been going gaga over it. However, the question here lies, whether or not the country is prepared for the change?

The shift from general vehicles to electric vehicles is a huge deal. In a country like India, launching an electric vehicle can often be a challenge. However, one thing to notice is that people are surely ready for the change.

Considering the enthusiasm that people had about the launch of people, we can suggest that the future of electric vehicles is nothing less than bright.

2021 is the year for electric vehicles

2021 will see a massive rise in the market of electric vehicles. It is necessary to understand that there’s an enormous change. One of the main reasons why electric vehicles weren’t that popular was the lack of infrastructure.

The improper infrastructure was, however, combat with the favorable policies. In today’s time, people have a very positive outlook, so they can work with electric vehicles. In 2020, there was a reduced hype in the electric vehicle market because of the lockdown. The government is, however, now scaling up towards improving the overall market for electric vehicles.

Road to future

Although electric vehicles are becoming popular, there is surely some downgrade in them. There are various electric vehicles available in the Indian market, but the same is pretty less. Although the demand now is less than one percent, it can be expected that the demand will rise to at least five percent in the coming times. How soon the demand for the same will increase completely depends on how the audience reacts to the market.

Nonetheless, the effort of the government is also noticeable. The transport minister, back in 2020, declared that the government would be setting up EV charging kiosks in the petrol pumps of the country. So, anyone owning an electric vehicle will have the flexibility to charge.

Moreover, the government is also bringing revolutions in terms of electric vehicles. The respective government has launched various Electric Vehicle (FAME) schemes, National Electric Mobility Mission Plan (NEMMP), and Manufacturing of Hybrid vehicles.

Mahindra and all other giants from the vehicle industry have already got into it. Moreover, these companies also bring in income tax rebates, loan subventions, and other such features. This is being done to ensure proper prompting for EVs.

Electric Vehicles are Expensive

One main reason why a significant population of India isn’t turning to electric vehicles is that they are pretty expensive. Although these vehicles have a longer and better life, they tend to be pretty expensive.

The higher price of batteries is one of the main reasons why electric vehicles are so expensive. It is necessary to consider the interest and shelf life. People looking forward to purchasing electric vehicles on loan need to have a better credit score. The power grid of electric vehicles is also an important factor to consider.

Electric vehicles and the grid can offer a lot of energy. Although the battery is expensive, it is pretty durable, which is why you can rely on it. Moreover, modest charging is also one reason why you should consider it. Another great reason why electric vehicles are so expensive is that they are environmentally friendly.

Electric Vehicles and Economic Slowdown

Electric vehicles are the most sustainable mode of transportation. It helps to avoid all toxic element generation. Moreover, electric vehicles are also contributing to the protection of the Indian economy. How? The use of electric vehicles will play an important role in reducing the cost of diesel and petroleum use. The pollution level of the country is significantly rising. In the meantime, the reduction of these elements will be helpful for fastening the Indian economy.

The investment of Tesla is one great benefit for the country. It is contributing significantly towards protecting the future of the country. The vehicle market within the country is constantly changing and has undergone several upgrades. However, there had been some slowdown owing to the problems in production.

The development in technology is also one of the main reasons why Indians are welcoming electric vehicles. The shift from manual company setup to electric vehicles is a long way, and India is covering up significantly. Nonetheless, we cannot deny that even today, there are obstructions in the manufacturing process of electric vehicles.

Electric Vehicle Adoption Campaigns

The mainstream mobility sector is changing. The metropolitan cities in the country like Kolkata and Delhi played an important role in boosting mobility solutions. Furthermore, they were the ones to introduce low operation and economic costs. We have seen the coming of several electric rickshaws. So, the coming of electric vehicles can’t be denied either.

The state and central governments are further launching various schemes to promote the rapid development of the electric vehicle industry. The Switch Delhi campaign was one of its types. The success of this company, however, helped in the development of national three-wheelers reach. Furthermore, the scheme is also promoting people to adopt the use of eco-friendly modes of transport.

What is the size of the electric vehicle industry in India?

The electric vehicle industry in the country is pretty big. Moreover, the rising economic concerns are one of the main reasons why the government is adopting electric vehicles. Furthermore, it is also launching the vehicle scrappage policy that is contributing to the rising electric vehicle market.

In the Indian population, a significant sum of the population is unaware of the use of electric vehicles. The population is surely praising the government’s efforts to launch electric vehicles.

Electric vehicles can change the entire working of the Indian transportation industry. The country, however, needs to upgrade the charging infrastructure to welcome these. There are several potential buyers in the country. If the government fulfills the promise they have made, India will definitely be leading the market. India is all set to become the hub of electric vehicles.

Safekeeping electric vehicles can be a challenge in the country. However, if the companies and government comply with each other, it can be extremely affordable.

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