A longer-term policy priority has to be the setting up of lithium battery production and solar charging infrastructure of a scale that matches the ambition. The drastic change in the auto industry will bring the discomfort in already suffering auto industry.
Why are the electric vehicles being supported by the policymakers?
Since 1992 the scientists have been trying to warn about the climate change, and the rising temperature of the earth yet, until Paris Deal of 2015, which was signed between 194 nations to bring down 2-degree Celsius global temperature to prevent natural calamities.
The change is often difficult, and no much how much well intended the change is, it brings negative consequences as well.
The Governments all around the globe has been trying to update the vehicles in order to reduce the negative of climate change.
Indian government holds a big portion of the population and the change is needed in the country. Therefore, the government has tried to pass the budget in a friendly way for greener vehicles.
An additional income tax deduction of ₹1.5 lakh is now offered on interest paid on loans to purchase electric vehicles, and the GST Council has been moved to cut the tax on e-vehicles to 5% from 12%. Both demands were made by the industry earlier.
There is a significant outlay under the second iteration of the Faster Adoption and Manufacturing (of Hybrid and) Electric Vehicles (FAME) plan of ₹10,000 crore, to give a fillip to commercial vehicles and to set up charging stations.
The Union Budget has announced a bold move to make a transition to electric vehicles and offered a tax incentive for the early adopters.
Its stated vision to leapfrog into an era of electric mobility and domestic vehicle manufacturing, led by public transport and commercial vehicles, is forward-looking.
The Centre has accepted some of the demands of the auto industry to popularise EVs. Climate change remains a matter of worry.
There was Paris deal in 2015 between 194 nations to bring down 2-degree Celsius global temperature to prevent the catastrophic effects of climate change.
The change is never without troubles, and no matter how much good it will be there having to be negative consequences too.
Need for Electric Vehicles
Electric vehicles will immensely support to bring down the global carbon footprint but at the same time, it will impact upon the Oil and Gas Industry In general.
However, to achieve an emission target, the transport sector has to be reinvented and changed because this transport sector emits 23% of the global greenhouse gas emission. Both electric vehicle and hybrid vehicles are seen as a silver lining.
Due to economic development, India has 19 out of 35 most polluted Cities in the world, and besides other factors- 50 percent of pollution arises due to vehicles.
Therefore, it is also inevitable because poor air quality and noise pollution have sharply affected the quality of life, and pose a serious public health challenge.
As the NITI Aayog has stated, the goal of shifting to electric vehicles cannot make progress without deadlines, and a market-driven approach sought by some sections of the automotive industry will leave India’s capabilities and infrastructure for e-mobility trailing others, notably China.
With 2030 as the outer limit, the imperative is to fix a realistic time-frame by which scooters, motorcycles, three-wheel carriages and, later, all new vehicles will be battery
Benefits of Using Electric Vehicles.
Switching on to electric vehicles can help in reducing 1 Gigatonne of Carbon-Di-Oxide. At present Electric vehicles have touched 1% of total global demand, and it has the potential to grow by 40%. India borrows a huge amount of Petroleum and crude oil, this burden will be lessened as well.
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Reasons for growth for Electric Vehicle
Switching to EVs(Electric Vehicles) has been a difficult task, however, it has been achieved due to the following reasons.
1. The prices of batteries have fallen and will continue to fall to make it affordable.
2. Strong incentives are being provided by the governments so that EVs can grow.
3. Lower tax rates and toll exemption further increased the sale of EVs.
4. Personal efforts of government like FAME Scheme by Indian Government also promoted EVs. IN 2015 Indian government has also launched a scheme named as FAME- Faster adoption and manufacturing of (Hybrid) Electric vehicles under the National Electric Mission to promote sales of fuel-efficient cars.
Challenges in Using Electric Vehicles.
Much has been done yet a lot more is needed. There are certain challenges which still hamper the growth of electric vehicles in the market, and those are written below-
- Adequate Infrastructure should be facilitated by the government
- Subsidies in the form of domestic gas and LNG could slow down the demand of other petroleum products as well as Electric vehicles.
-The government is planning to increase the sale of vehicles by 2030, and hybrid vehicles can help in achieving it.
Global Use of Electric Vehicles
Governments in APAC (Asia-Pacific or the Asia Pacific) region, mainly China, Japan, and South Korea have developed electric vehicles. Their governments effectively supporting the business plan and market consumption of electric vehicles, and there are many things other countries can learn from one another.
The Indian government has announced a bold move to switch electric vehicles. Even a tax incentive has been offered for early adoption of electric vehicles.
The budgetary measures will have an immediate impact on the pricing of electric vehicles and bring in more models, but it will take a sustained effort by the Centre, in partnership with State governments, to enable a fast rollout of charging infrastructure.
The Ministry of Power issued guidelines and standards for this in December last year, setting technical parameters for public charging stations that can enable normal and fast charging.
With price competition, a speedy spread of electric two-wheelers can be expected, given that over 80% of conventional vehicles sold in India come under that category.
Affordable charging will make these vehicles and commercial three-wheelers attractive because operating costs are a fraction of petrol and diesel equivalents.
Yet, longer range travel will require more than a charge-at-home facility, and this would have to be in the form of fast charging at parking lots, retrofitted fuel outlets, new public charging stations, hotels, offices and so on.
Swapping the battery at convenient locations with one that is pre-charged, especially for commercial vehicles that run longer and need a quick turnaround, is worth considering. A longer-term policy priority has to be the setting up of lithium battery production and solar charging infrastructure of a scale that matches the
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