If 30 per cent of vehicles transition to EVs, India can save ₹1 lakh crore in import bills: Volvo MD

India's air pollution levels are a growing concern, and EVs offer a sustainable solution by significantly reducing vehicular emissions.

- RITWIK MUKHERJEE

If 30 per cent of vehicles in India transition to EVs, the country could potentially save approx. Rs 1 lakh crore in import bills. Electrification is not just an industry trend, it is a necessity. Public awareness and trust in EVs must also grow.

Speaking to The Statesman, Jyoti Malhotra, Managing Director, Volvo Car India, 30-35 per cent of whose new customers are opting for EVs, explains why India has the capability to become a global leader in EV manufacturing and shares his thoughts on what key actions need to be taken to push the EV adoption further.

Excerpts:

Q: How is India's EV adoption progressing? Is it moving in the right direction and at the right pace?

A: India's EV adoption is moving in the right direction, though there's still ground to cover. While India's EV penetration in the PV category has been improving and in April 25 it is reported to be around 3.5 per cent, we at Volvo Car India remain confident about the market's long-term potential. Electrification is not just an industry trend, it is a necessity. There are three fundamental reasons why we strongly believe in this transition:

Pollution Control —

Reducing Oil Dependency — The Indian government's focus on decreasing oil imports aligns with the shift towards electric mobility. If 30 per cent of vehicles in India transition to EVs, the country could potentially save approx. Rs 1 lakh crore in import bills.

Manufacturing Potential — India has the capability to become a global leader in EV manufacturing. Strengthening the EV ecosystem can drive industrial growth, create jobs, and position India as a key player in the global electric mobility space.

Sustainability is an urgent priority, and action is needed now. At Volvo Car India, we are committed to driving this change. Our belief in electric mobility goes beyond just a slogan—“EV Sahi Hai” reflects our core philosophy of promoting a greener and more responsible future.