To increase the adoption of electric vehicles, the government must standardise safety rules and provide incentives. They also need to create a scrappage program for easy scrapping of ewaste.
According to the latest EV discussion paper titled “The Future is Electric”, released by industry body Nasscom, there is a need to have more tech companies in the ecosystem. All stakeholders are riding the EV wave.
EVs are the future of the industry thanks to the concerted efforts by automotive OEMs, increased interest from start-ups, improved consumer preferences, and support from the government through subsidies, grants, and other incentives, Sangeeta Gupta, chief strategist and senior vice president of Nasscom told. She also said that the automotive value chain does not just include suppliers and OEMs. She said that legacy players are now up to speed and that a multitude of tech system integrators, as well as start-ups, are developing technologies and platforms to accelerate mass EV adoption.
According to the report, more tech companies should be part of the ecosystem. In-depth research is required on how to reduce battery costs and grow battery density. To facilitate successful battery swapping, it is important to standardize the battery size and form.
Safety standards need to be enforced. India does not have fire safety norms or testing of chargers. All states should offer more tax incentives, and each state must have an EV policy. There is currently no uniform incentive program, even in Delhi NCR.
It is important to plan properly for the deployment of chargers. Public chargers that are approved under subsidy programs are slow chargers. Home chargers may be slower than home chargers, as most charging takes place at home. Public chargers should be fast EV sales soared during the pandemic and are now stronger. In the past two years, electric two-wheelers and electric three-wheelers saw double-digit growth. Electric cars experienced 150% growth.
The market for battery and charging infrastructure is expected to expand significantly, with the government setting specific goals for EV adoption. Tech system integrators are also an integral part of the ecosystem, designing and manufacturing different components. Tech start-ups also have many solutions and platforms for the EV ecosystem.
However, tech players who can solve problems such as safety and battery fires and mileage and range, battery charging, vehicle technology, and charging are even more important. The government must be clear about subsidies, a shared EV policy, targets and infrastructure.