The Indian EV industry’s game-changer

If you haven’t noticed, electric vehicles with green license plates are commonly found on two- and three-wheeled vehicles. This is an extremely interesting development that is evolving in India that other emerging economies can inspect and learn from. It is yet too early to assess its progress, if the electrification of this segment proceeds at a similar rate, it could benefit the billions of people that live all over the world, especially in African and Latin countries. Since many people in these countries are impoverished and do not have cars, a low-cost electric model will support the ecosystem and offer people a way to get around and contribute to the local economy. Indians are pouring a significant amount of money into electric two-wheelers, which are widely available from manufacturers like Ola Electric, Okinawa, and Honda. These vehicles may be used for daily commuting within cities or for business purposes. Leading delivery companies have switched to using these electric scooters, not just for their brand value but also because they are very affordable and have minimal maintenance and operational expenses. Environmentalists applaud this development because they believe that the middle and lower classes' cost-effective switch to electric scooters may be a positive start in the right way to curb pollution in Delhi. Consider Ramesh, a driver of a Zypp 3-wheeler who works for a courier service that has partnered with Zypp Electric which provides last-mile zero-emission modes of transportation. Before starting his deliveries, Ramesh gets his battery changed at a Sun Mobility-operated battery swapping station outside of Delhi. A fascinating fact about the nearly 5 lakh electric vehicles sold in India is that only around 15,000 of them are cars. A fascinating fact about the nearly 5 lakh electric vehicles sold in India is that only around 15,000 of them are cars. In contrast, 5 lakh electric cars were sold in America. Most of the electric vehicles sold in India are 2 and 3-wheelers. This demonstrates that although consumers are interested in moving to EVs, they are cost conscious and will prioritize their budgets. As a result, there is now room for many companies to flourish in India and test out novel solutions that can accelerate the electrification of the nation’s fleet of vehicles. To encourage producers and streamline the process, the government has been heavily investing in programmes like FAME I and FAME II. The government is heavily relying on 2 and 3 wheelers to electrify both the nation’s logistics fleet as well as personal modes of transportation. Due to this, e-scooters and e-tempos are now quite affordable for both private buyers and business operators. Due to lax rules, a number of businesses began importing batteries from the Chinese market, which did pose a safety risk. However, as a result of numerous battery fires, government controls have since become more stringent. When we consider the demographic, people typically own smaller vehicles. It makes more sense to electrify this fleet because it would be cheaper and more quickly adopted. Compared to western nations, India has relatively low car ownership rates, which makes electrifying the small vehicle market more sensible from a financial and ecological standpoint. Making these vehicles more environmentally friendly alone, however, will only be a partial solution; in order for it to be truly effective, the electricity source must also go green. India’s primary energy source is coal-fired power plants. India needs to invest in alternative energy sources like solar and hydro; it is undoubtedly progressing well in this area, and it should keep doing so.