India’s electric vehicle market
A lot of the talk about how the world is purportedly going greener can be discounted as hype, but one thing stands out as having the actual potential to bring about a radical change in how people commute and ultimately contribute to a greener future. That thing is *drum roll*, electric vehicles.
I hail from a large country called India, whose capital is the large city of Delhi. India ranks at the top of all charts when it comes to environmental degradation and pollution; all of our main cities are among the most polluted cities on the planet. Every year, the government would make pledges both before and after elections. They even invest money in lavishly named projects that give the appearance that they are actually working on something but end up being nothing. It is so awful that you can practically feel the contaminants depositing in your throat during the winter months. The air is filthy, the water is unfit for human use. Delhi’s pollution, which every year makes headlines on international news channels and wounds the dignity of prideful Indians. Will these politicians ever own up to their actions, and bring some change?
Despite all the doom and gloom, there is one bright spot that may assist to at least partially resolving the issue: the strong adoption of electric vehicles. Since Delhi’s air pollution is primarily caused by the vehicle emissions of people traveling through the city, this application may help. Both private and business vehicles are the source of pollution. Despite the strict regulations for residents' personal vehicles, the pollutants are brought in by cars that are not registered in the city. In addition, despite the high entry fee and the availability of the Western and Eastern expressways to make commuting quicker and easier without passing through Delhi, commercial vehicles like cargo trucks continue to pass through Delhi. The solution, which has the potential to significantly reduce emissions, is to electrify the whole transportation system.
When you are traveling through Delhi, you could notice a lot of vehicles sporting the gratifyingly green license plate that denotes an electric vehicle. The demand for EVs is low for a number of reasons, including the fact that they are very expensive and the fact that people still lack the motivation to purchase these vehicles. Indian customers are indeed very price conscious and will take into account the upfront cost to one‘s wallet instead of the long-term cost savings. Until and unless buyers notice a price drop in electric vehicles where they come as near to the ICE, the increase in 4-wheelers will likely continue exceedingly slow in the future years. Currently, only those who can afford to buy an EV and set up the charge stations at home are interested in doing so. As long as middle-class families, who make up a significant portion of the country’s population, cannot purchase an EV, these EVs will not be effective. The sale of 2W, which is displaying strong growth and will continue to do so, offers some promise for the electric vehicle industry as they are being adopted rapidly by both people and businesses in the city. Their capacity to compete with the pricing of a non-electric EV 2Ws and the convenience of the charging infrastructure are key factors in their success. India still has a long way to go before the Electric Dream is realized; in fact, it hasn’t yet begun. The system needs to undergo a significant makeover, and growth must occur not just in Delhi but also in tier 2 and tier 3 cities. To bring the price of batteries equal to or below that of an ICE, the government must concentrate on doing whatever is within its power to do so. On top of that, the government ought to create areas where start-ups can expand, thrive, and sustain the growth of EVs.
