May 18, 2021

The Electric Vehicle Industry may have a reason to celebrate following the recent seven initiatives

2 min read

Just like most governments are trying their level best to reduce if not eliminate transport emissions, the Government of India is also doing its part for its citizens. For the last seven years, it has been all about reducing toxic emissions, air pollution and traffic congestion. It is changing the country’s manufacturing ecosystem, coming out with new technologies, and considering energy change, including transitioning to electric vehicles.

From agencies to ministries, the state organizations are coming up with initiatives and policies favoring electrification of vehicles as soon as possible. They include the National Electric Mobility Mission Plan, National Mission for Transformative Mobility and Battery Manufacturing, FAME-I and II, Phased Manufacturing Program, and Advanced Chemistry Cell Production Linked Incentive Scheme. These initiatives and policies can take the electric vehicle energy to a whole new level, no doubt. There is also the coronavirus global pandemic. Amidst all its adverse effects, it had a good side. It made people’s lives stop for a while, making them think of things that they were too busy to consider before. They include circular economy, sustainable transportation and climate change.

For the last decade, the government has been advocating for wind and solar energy renewable energy. Today, fossil fuels are no longer the better option in producing energy. For the next ten years, the push will be the reduction in the cost of battery technologies. Consequently, the transition to electric vehicles will be affordable. After all, consumers are more concerned with the affordability that the climate change issue.

Hopefully, the cost factor will not hinder transitioning from conventional to renewable energy and electric vehicles because they will be at pa. The adoption at the moment is entirely wanting, but the policies could see that change within no time.

However, as much as the governments are coming up with initiatives and policies, they may not do much if they fail to address some issues. One of them is the cost factor because no one will buy something they can’t afford. The other problem is the availability of myriad options for them to choose from when purchasing new technologies.

There is also the issue of a disruption. For instance, the government comes with policies good enough to increase production. Usually, that would see the price decrease, which is something good for the consumers. However, that same government comes up with policies that favour the investment in infrastructure. Consequently, a lot of people adopt the idea of creating a high demand for products. The increased supply then leads to a high price, and we go back to the affordability issue. Therefore, policies and initiatives may not be the solution. Affordability surpasses all other aspects, no doubt.

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