PLUGGED IN FOR AN ELECTRIFYING FUTURE

RECENT POLICY REFORMS ACCELERATING THE GROWTH OF EV SECTOR AS INDIA CHASES THE GOAL OF BECOMING NET ZERO BY 2070 PLEDGED AT COP26

- AMEEN KADER SYED

INDIA IS GETTING READY TO WRITE THE NEXT success story on electric vehicles as the country is ramping up its ecosystem for future mobility. India’s heavy reliance on costly imported oil to fuel its fast-growing vehicle numbers coupled with its commitment to reduce carbon emission makes it logical to switch to electric and other alternative sustainable fuels.

“EVs are billed as the future in mobility,” says Suman Mishra, CEO at Mahindra Electric Mobility Limited.

Talking about India’s electric 3-wheeler market, she points out that it was at 1% last year but now has reached 10%. “This signals a huge growth and the growing trust in an EV’s capability with respect to performance as well as the immense savings when compared with an ICE vehicle.”

Mishra who is responsible for charting the future of electric last-mile mobility for Mahindra Group says the EV adoption has been quicker in this segment primarily due to the lower cost of ownership, and fantastic savings vs ICE vehicles.

For example, she says Mahindra Treo auto gives a saving of more than Rs5 lakh in five years when compared with a diesel auto.

Leading EV player Greaves Electric Mobility says India’s mobility segment has undergone a significant transformation in the last few years.

There has been a significant rise in demand with an encouraging policy environment at both central and various state government levels,” says Roy Kurian, COO at Greaves Electric Mobility, an e-mobility arm of Greaves Cotton.