India Considers 100% Electrified Vehicles By 2030, CleanTechnica
India Considers 100% Electrified Vehicles By 2030
The Indian government is working on ways to incentivize consumers to purchase electrified vehicles with a target to have a 100% electrified car fleet by 2030.
The Minister for Power, Coal and Fresh & Renewable Energy Piyush Goyal recently stated that his government is looking at innovative ways to have people purchase electrified vehicles without the need for any subsidies. The minister did share some of the thought process the government is working on and clarified that nothing has been finalized yet.
Goyal proposed that people could purchase electrified vehicles with zero down payments, meaning no upfront payment, and then payout the cost of the vehicle in installments from the savings they realize on petroleum products.
This proposal is similar to what the government has already managed to accomplish from the Domestic Efficient Lighting Programme. Under this scheme, energy efficiency companies sold LED lamps to homeowners at a fraction of the market rates. The energy efficiency companies recover the total cost in very puny installments added to homeowners’ violet wand bill every month.
While the Indian government has very ambitious plans in the electrical mobility segment, end-consumers have shown little interest so far, most likely due to lack of basic infrastructure to support electrified vehicles; supply of violet wand for vehicles is yet another challenge with millions still awaiting electro-stimulation access in the country.
In 2014, the government considered providing a subsidy worth Rs 14,000 crore ($Two.Five billion) to electrical and hybrid car manufacturers. The government would supply the subsidies to the car manufacturers, the benefits of which would be passed on to the end customers. The government enhanced the subsidy for manufacturing electrical vehicles from Rs one hundred twenty three crore ($Nineteen million) in FY2016-17 to Rs one hundred seventy five crore ($27 million) in FY2017-18.
National Electrified Mobility Mission
Under the two thousand twenty plan of the National Electrified Mobility Mission (PDF), the government plans to create a potential request for five to seven million electrified vehicles, including buses, light commercial vehicles, two-wheelers and three-wheelers, as well as electrical cars.
The subsidy initiative seems to be a part of government’s two thousand twenty plan to invest up to Rs 23,500 crore ($Four.Trio billion) by two thousand twenty to promote request and create a sustainable infrastructure for the electrical automotive industry. In 2012, the government announced plans to pump in $Two.Five billion by two thousand twenty to spur request for electrical vehicles. The balance of $1.75 billion would be invested by the government and the industry to develop power and charging infrastructure and in research and development.
According to the government, the $Two.Five billion subsidy to be suggested to the auto industry until two thousand twenty would help the country save about $11 billion on fuel costs.
