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Report says India can save ₹20 Lakh Crore by adaptation of EVs

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FICCI-Rocky Mountain Institute report says “India can leapfrog the western mobility paradigm of private-vehicle ownership and create a shared, electric and connected mobility system, saving 876 million metric tons of oil equivalent, worth US$330 billion (INR 20 lakh crore) and 1 giga-tonne of carbon-dioxide emissions by 2030”.

Recently, Maruti Suzuki & Toyota join hand for take EV in India. Also, Mahindra motors working on EVs & company delivers the first slot of eVerito to EESL (Energy Efficiency Service Limited). There is Tata motor & many more company working on EVs project, so the next generation get polluted free world.

Here is the report what says –

Using a collaborative approach, coordinated action and the strategies and solutions in this
report, India can overcome key barriers to EV adoption and potentially become a global leader
in electric mobility.

Estimates indicate that India’s urban population will nearly double in the next decade, to
approximately 600 million in 2030 and forecasts suggest that by then India’s urban population
will take almost 500 million trips per day. While this rapid growth presents major policy and
business challenges for India’s public and private sectors, respectively, it also presents an
enormous economic opportunity. Optimizing e-mobility use for everyday life with greater
thrust on use of public transport, e-vehicles, metro solutions and shared rides as means for
mass transit could also prove game-changers in addressing the issue of air pollution in urban

India’s transition to a shared, electric, and connected mobility system can save US$330 billion
(INR 20 lakh crore) by 2030 on avoided oil imports alone.
If India is successful in reaching its EV target, the market could be enormous. Even under a
shared mobility paradigm, over 46,000,000 vehicles (two-, three-, and four wheelers) could be
sold in 2030. This annual market size would present an opportunity for Indian companies to
become leaders in EV technology on a global scale.

By 2027, 4-wheel EV sales may exceed 4-wheel ICE sales. After this intersection point, 4-wheel
EV sales will grow rapidly, with nearly 16 million 4-wheel EV sales in 2030. While achieving
100% EV sales by 2030 is challenging, doing so would create a major business opportunity for
automakers. Realizing this goal would have a significant impact on India’s vehicle stock, with a
nearly equal split between ICEs and EVs by 2030 in the 4-wheel segment.

In develop country main barrier is price, selection, range, charging, and consumer awareness are falling due to steeply falling technology costs, business model innovation & increasing connectivity. But there is solution to that is improve EV charging infrastructure, EV swapping, Battery manufacturing & many more.

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