We talk about the 5 measures that will fasten the EV adoption in this article. The electric vehicle adoption rate in developed countries like US is decent. However in India, EVs are receiving huge response from the crowd. Tata Nexon EV, India’s best selling electric SUV had registered sales figures of 35,000 way back in December 2022. It is worth noting that this figure was achieved in only 2 years after the EV’s launch. Courtesy to the reception that electric vehicles (especially electric four wheelers) have received from Indian audience, many car makers are now introducing their EV line up.
5 measures that will fasten the EV adoption
Table of Contents
Although EV adoption has been rising in India, here are 5 measures that could further improve the EV adoption. There are still issues at ground level that are adversely affecting the EV adoption. Let us delve deep into each one.
1. Charging Infrastructure
The current network of charging stations is not growing in conjunction with the rate of EV sales. Mass adoption of charging stations in places such as malls, housing societies, commercial office spaces, restaurants, parking lots will definitely help to reduce drivers’ anxiety.
Drivers’ anxiety is one of the main reasons that people are hesitant to shift to EVs. We can argue that cars should get bigger batteries, but this is something that will happen in the long term. Whereas opening of charging stations could help reduce driver’s anxiety.
2. Battery Recycling Infrastructure
Currently most of the EVs use Lithium batteries. Some EV makers provide 6 years, some 8 years and so on. But what is important to know is that used electric vehicle batteries ending up in landfills could be a huge disaster.
Also, the raw materials required for EV batteries are limited as of now (E.g- Lithium), recycling materials from used battery to manufacture new ones would definitely help not just for EV adoption but mainly for the environment.
We do understand that framing a policy as complex as battery swapping is not an easy task but baby steps taken now would be beneficial for future generations.
3. Improved Battery Range and Charging Time
An improved battery range across all segments of EVs (Electric cars, electric trucks, electric bus, electric three wheeler, electric two wheeler) would definitely help in further bringing down the operating cost of EV.
Currently the EV batteries take on an average 8-10 hrs for to fully charge using regular charger. Improving the charging time will improve convenience for EV owners. Hence, improved battery range and improved charging time could very well make a strong case for buying an EV.
4. Tax Concessions
Tax Concessions especially for EVs that are under 20 lakhs will make it more price competitive. It is worth noting that if tax concessions are not offered and EVs are taxed at par with petrol/gasoline powered vehicles, owning an EV would require high initial cost.
FAME-I and FAME-II incentives announced by the government have been received well by the OEMs and customers.
5. Battery Swap Policy
A clear battery swap policy involving various stakeholders viz. EV owners, EV manufacturers, battery swapping companies and of course government would result in increased convenience and reducing charging time.
We know the points that we have mentioned are not easy to implement, but few steps in right direction will definitely act as a catalyst for EV adoption. Let’s make EVs safer and reliable.
Along with electric vehicles the Indian government is promoting ethanol based vehicles. It would be interesting to see the pricing of 100% ethanol based fuel car. Although we do expect the price to be high and relatively expensive than petrol-diesel cars.
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