The Indian government has been formulating noteworthy efforts to promote the usage of hybrid cars throughout the country. A major downfall for ICE vehicles is the escalating incidents of climatic change and global warming. Hence, adopting EVs is the most viable alternative at present.
Why Switching to EVs is Essential?
A Boost in Fuel Costs
A crucial and most compelling reason for these astronomically high gasoline prices. Similarly, diesel is following the same vein. The present expensive market forces the common man to seek out novel ways to eliminate the rising overheads. For drivers, seeking to eliminate costs, EVs offer a promising future and are the best alternative.
*Statista states that the worldwide fuel energy price index was at 223.27 index points as of January 2023.*
Have a Fair Contribution to the Economy’s Growth
India used to import about 80 per cent of its crude oil requirements. Owing to this banks encountered emptying their accounts and a progressive reliance on fossil fuels. The Indian economy can witness a boost and benefit from an effective elimination of the use of gasoline if people start adopting EVs.
The Indian government is actively supporting the manufacturing and distribution of EVs such as e-bikes, e-cars, etc. Hence, an increase in the supply of electric vehicles as more businesses are curious to establish EV setups in India. These measures can drastically recover the wrecked economy of the nation.
Prevention from Environmental Pollution
City air quality, in general, is very often recorded as poor by geographical and weather departments. A major cause is the release of carbon excessively into the atmosphere. The most impacted body part is the respiratory system by poor air quality. The Indian government has taken initiatives to preserve the earth and make it habitable. And one major and essential objective is the active promotion of EVs to create a more sustainable environment.
Manufacturers nationwide are now making a paradigm shift to green environment processes by producing e-bikes and e-scooter parts.
Mentioned below are some initiatives curated by the Indian government to spread the word about EVs:
- The GST on EVs has been pulled down from 18% to 5%. This implies the best EV charging solution companies in India will eventually cost you 5% less.
- Leverage private charging at home and workplaces, thanks to the Ministry of Power’s notification about charging infrastructure standards.
- The Ministry of Road Transport & Highways of India has annunciated that EVs will be eligible for green license plating and won’t require permits to operate.
E-bikes licenses are now availed to drivers aged between 16-18 in MORTH.
In 2015, the Ministry of Heavy Industries arrived with the Faster Adoption and Manufacturing of Hybrid and EVs in India strategy to motivate people to buy hybrid and electric cars. The second instance of the FAME India Scheme, funded approximately Rs. 10,000 crores over five years, has been now put into effect. The Indian government plans to subsidise the buying of 7090 electric buses, 10,000,000 electric two-wheelers, and 5,000,000,000 electric four-wheelers to encourage the energy supply of public transportation.
In a nutshell, these essential measures have been taken by the Indian government to promote the use of EVs. The government thrives on the mission to set EVs on road by the year 2050.
As per the graphs which states by 2027 India is likely to have 9.1 million EVs on the road of which 2.20 million will be witnessed in 2023, 3.90 million in 2024, and 5.62 million in 2025 followed by 7.51 million in 2026. This is an enormous and optimistic market outspread considering the Indian EV industry.
Additionally, the advent of AEPL chargers can be an effective solution for EVs’ formulation. AEPL-powered chargers can help facilitate E-mobility by formulating smart charging solutions for EVs.