India is Planning to Reach 100% Electric Vehicles by 2030

Categories: environment

What? The government of India has announced a plan to make India 100% Electric Vehicles (EV) by 2030. Working on a structure to provide electric vehicles on a zero down payment option, the government said that "while the acquisition cost will be free, people can pay the instalments out of the savings on petroleum products". The logic behind this initiative is that reducing fossil fuel dependency and oil imports will lead to extensive monetary savings that could be used to provide cheaper electricity for charging EV. India, which is expected to be one of the most important car markets in the future, is already dealing with poor air quality and in December 2015 the Indian Supreme court has ordered a ban on the sale of new diesel vehicles with an engine capacity of 2,000cc or more.

So what? While these ambitious targets could significantly reduce the expected rising oil consumption in the next 10-15 years, it could also dramatically increase the demand for lithium to produce the batteries needed for electric vehicles. Having an important EV fleet in Indian urban areas could also improve power peak demand by plugging EV to the grid and support the building of a smart and decentralized power grid. This could drive frugal innovation in the EV segment and encourage the commercialization of low cost electric vehicles.

Source: NDTV: Auto - Government Plans to make India 100% Electric Vehicle Equipped Nation by 2030

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