India to become 100% electric vehicle equipped nation by 2030
Going by the rising levels of pollution in the country, electric cars happen to be the need of the hour. India lacks adequate infrastructure and the investment cost is only too high, spotting an electric car on Indian roads in rare indeed. However a recent statement from our Power, Coal and Renewable Energy Minister, Piyush Goyal reveals that the government is planning to launch a scheme that will enable customers to buy electric cars on zero down payment option. Talks are on to make India a 100 percent electric vehicle nation by the year 2030.
This scheme will encourage manufacturers to introduce more electric cars in the country which at present is negligible. Hybrid and electric cars are quite costly and there is negligible demand in the market for these type of cars. Carmakers like Toyota, Nissan and others will bring forth their offerings to the domestic market if the proposed scheme works out. The introduction of Faster Adoption and Manufacturing of Electric Vehicles (FAME) initiative encouraged mass player Maruti Suzuki to introduce hybrid technology in their vehicles, this initiative provides subsidy on hybrid and electric cars.
The Government of India is working out an option that will make the acquisition cost free and customers can pay their instalments from the savings on petroleum vehicles. This scheme will not require any kind of support from the government, nor will it require any sort of investment from other people, it is going to be a self-financing one. The target figure is undoubtedly huge, but the government is very positive and plans to bring about this revolutionary change through innovation and scale.
Other important benefits of becoming an 100 percent Electric Vehicle Equipped Nation is it will bring down the oil imports and lower the fossil fuel dependency which will result in substantial monetary savings. The money saved will be utilized in providing cheap electricity to charge such cars. Ather Energy is the recent example of a domestic start-up to come up with an environment-friendly two-wheeler. Reports suggest that the Indian government is all set to discuss the proposed scheme in detail in the first week of April. Let’s hope that the scheme is pushed into place and India achieves the set target of having 100% electric vehicles by 2030.