What India Needs To Do To Boost The E-Mobility Sector

Transportation is getting revolutionised with the demand for electric vehicles (EVs) growing over the past couple of years. Global experts feel that EVs will not only lower costs but also save the environment from the polluting effects of petrol and diesel. So, the auto sector is set to change completely, with 150-year-old technologies being phased out to make way for e-mobility.

- Nijhum Rudra

With the arrival of autonomous EVs, personal car ownership is expected to drop as people start opting for ride-hailing services. This will not only save time and expenses, but also decrease greenhouse gas emissions and pollution.

Challenges faced in the Indian EV industry

One of the biggest challenges faced by the electric vehicle industry, in India and globally, is the lack of retail financing options. All potential buyers of electric vehicles should get support from the nationalised banks. “Customers should be able to avail income tax benefits on loans taken to buy EVs. The second challenge is the lack of an appropriate charging infrastructure. Third, is ensuring sustainable power resources for the rapid growth of the electric vehicle market. By overcoming these major challenges, we can definitely ensure significant growth in e-mobility,” says Pankaj Tiwari, business development head, Avan Motors.

Another challenge in the EV industry is the lack of clear policies from the government. Apart from this, consumers are also not too aware about this sector and the performance of EVs. “Before people can become consumers of EVs, the government sector should take the lead by becoming large scale buyers,” says Jeetender Sharma, managing director, Okinawa Scooters.

Digitising transport