Electric mobility has several merits, one being that it enhances people's quality of life by not generating toxic fumes or emissions. Additionally, because electric mobility vehicles do not operate on ICE engines, they do not emit tonnes of greenhouse gases, which help to fight rising pollution, global warming, and loss of ecology.
Electric mobility is not a new concept in India. The idea has been around in the country for almost two decades but it didn’t see the accomplishment of vast magnitude, mainly because of lack of government initiative and infrastructures. However, the last 4-5 years have seen tremendous development in the electric vehicle sector as both government and manufacturers went all out with their assets to build a robust ecosystem that is sustainable for electric vehicles.
This online feature will look at the business advantage of electric vehicles in India, as well as the numerous trends and issues that EV development presents.
E-Mobility Mission of India That Is Driving Growth And Sustainability
Several programs and schemes were evaluated by the central leadership to make Electric Vehicles easily accessible to the consumers, however, many have hit roadblocks due to a lack of proper planning. One key initiative, NEMMP, has got India to a formidable position in developing a sustainable EV ecosystem in the country.
The ministry of transport wants to sell over 60 lakh units of electric and hybrid vehicles in India by 2030, according to its National E Mobility Mission Plan (NEMMP). By promoting hybrid and electric vehicles in the country, the NEMMP hopes to achieve national fuel security.
NEMMP wants hybrid and electric vehicles to be the very first alternative for buyers so that they can substitute traditional vehicles running with internal combustion engines. This will help lower the country's fossil fuel consumption by the ICE vehicles.
The National Electric Mobility Mission is a hybrid program that uses a variety of policy levers, including demand-side subsidies to encourage the purchase of hybrid and electric vehicles.
NEMMP's core elements include promoting R&D in areas like battery technology, power electronics, motors, systems integration, battery management systems, and testing infrastructure, as well as ensuring industry participation in R&D. The flagship program also intends to bring cutting-edge innovation to the task of replacing aging vehicles with hybrid-electric motors. This not only saves you money, but it also takes care of your old, outmoded vehicles. The NEMMP's aim also includes the creation of a massive network of charging infrastructure, which is critical to India's long-term EV ecosystem.
To boost the manufacturing of electric and hybrid vehicle technology, the ministry of transport has launched the Faster Adoption and Manufacturing of Hybrid & Electric Vehicles in India (FAME-India) scheme under NEMMP 2020.
A. Ensure the security of India's energy supply.
B. Prevention of the negative environmental impact of cars.
C. Boost growth or increase in domestic production capacities.
Policies Of transport ministry to accelerate the adoption of EVs in India
A. Tax break has been announced on the amount borrowed for the adoption of an electric vehicle.
B. The GST rate on electric vehicles has been reduced from 28 percent to 12 percent.
C. The sale of power as a 'Service' for charging EVs has been approved, which is expected to give significant incentives to encourage investment in charging solutions provided by numerous stakeholders and startups.
D. The Ministry of Road Transport and Highways has published a notice on the exclusion of a license for battery-powered vehicles.
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