EVs need regulatory charge
India must put its electric vehicle transition plans in high gear
Soon after US President Joe Biden took office, he passed an order for an all-electric federal vehicle fleet. Since then, leading auto manufacturers including Ford, General Motors, and Jaguar have announced ambitious targets to sell only zero-emission vehicles in the coming years. Late last year, the UK and China announced bans on selling petrol and diesel cars from 2030 and 2035 onwards respectively.
While India, too, has signalled strong electric vehicle (EV) ambitions, bold policies and announcements from domestic automakers are awaited. India cannot afford to miss the EV revolution given that its automotive sector is one of the largest contributors to national GDP. Recent research by the Council on Energy, Environment and Water (CEEW) also finds that 30 per cent EV sales in 2030 could result in ₹1-lakh crore of oil savings, 1.2 lakh new jobs, and 16 MtCO2 reductions in GHG emissions. So, while the goal is clear, what will it take to realise this ambition?