Prime Minister Narendra Modi made a commitment at the COP26 summit to reduce India’s carbon intensity by 45 percent by 2030 and reach net zero by 2070, implying that adoption of electric vehicles (EVs) is the only way forward.
In addition to being a sustainable mode of transportation, electric vehicles have the potential to contribute significantly to the economy by electrifying last-mile connections and filling gaps in public transportation networks. The economic prosperity of a nation is dependent on mobility. Fast urbanisation and populace development have expanded the interest for portability and travel, driving interest for electric vehicles.
However, the country’s dependence on crude oil imports has increased, as has the country’s air quality, traffic congestion, and dependence on motor vehicles.
The globe is now suffering with huge natural calamities, with global warming leading the list. Clean transportation might be a game changer, given that vehicle pollution is a key contributor to global warming.
Electric vehicles are the way of the future, and e-bikes will become the most common mode of transportation, reducing air pollution gradually.
According to a KPMG India research, over 50 million electric vehicles will be on the road by 2030! The global automobile industry is now undergoing a paradigm change as it strives to migrate to alternate, less fuel-intensive solutions as a result of the “silent revolution” of electric vehicles.
The country is also pushing investment in electric car transition. The burden of oil imports, growing pollution, and worldwide pledges to combat global climate change are important drivers of India’s recent initiatives to expedite the transition to electric vehicles, since electric vehicles offer a superior option to internal combustion engine vehicles.
By making electric vehicles more accessible, India is increasing their efficiency across the country. Since the two- and three-wheeler segments have the highest demand for such vehicles, manufacturers are either introducing models now or planning to do so soon. Analysts predict that with the correct incentives, initial purchase costs will be decreased as battery technology advances bring down battery prices.
India’s path to net zero
India has committed to reducing the economy’s projected carbon emissions by 1 billion tonnes by 2030, which clearly demonstrates its intention to pursue decarbonization. Cross-sectoral contributions from countries, industries, and businesses are necessary to make it a reality, despite the fact that it provides India with a clear path.
One of India’s main sources of emissions is the automobile industry. India must make this sector a top priority in order to meet its targets for net zero emissions. Emissions from transportation will skyrocket by 2050 if fleets are not immediately electrified, accelerating climate change.
India may be able to meet its targets, or Nationally Determined Contributions (NDCs), outlined in the 2015 Paris Agreement with a comprehensive push for EV adoption. India has swore to create half of its power from non-fossil sources by 2030 and to diminish the discharges force of its Gross domestic product by 45%.
