Emphasize on electric vehicles, frame the policy to reduce the total cost of ownership: Economic study

NEW DELHI: The country should emphasize electric vehicles (EVs), as they represent the next generation in sustainable mobility and appropriate policy measures are needed to reduce overall lifetime property costs to make them an attractive alternative for consumers , according to him Economic survey 2018-19.

The survey, which was presented in Parliament by the finance minister Nirmala Sitharaman He also said that the country can emerge as an EV manufacturing center; and a political impetus is required to design universal cargo standards for India as a whole and provide an adequate cargo infrastructure.

Since electric vehicles represent the next generation in sustainable mobility, India must emphasize them. Currently, the market share of electric cars is only 0.06 percent compared to 2 percent in China and 39 percent in Norway, he said.

Affirming that it might not be unrealistic to visualize in the future one of the Indian cities emerging as the Detroit of EV, he said: Appropriate political measures are needed to reduce the overall lifetime ownership costs of EVs and turn them into an attractive alternative to the conventional ones Vehicles for all consumers, he said.

However, the adoption rate of electric vehicles has been slow, largely due to the lack of charging infrastructure in India and the time needed to fully charge electric vehicles.

In India, the limited availability of cargo infrastructure appears to be a major impediment to further adoption of electric vehicles, he said, adding that access to fast-charging facilities should be encouraged to increase the market share of electric vehicles.

Therefore, a political impetus is required to design universal cargo standards for the country as a whole and provide an adequate cargo infrastructure, the Survey added.

Highlighting the enormous potential for EVs in India not only for their ecological attributes, the survey said that the country can emerge as a manufacturing center for such vehicles that generate employment and growth opportunities as long as the policies are supportive.

While the government has provided various incentives and new policies are being implemented, it is important that these policies not only focus on reducing the initial costs of owning an electric vehicle, but also reduce the overall costs of ownership for life, He said.

The survey also said that, given the commitments that India has made on the climate front as a nation and the growing awareness of consumers about environmental issues, it is likely that a greater proportion of the automotive sector will be in the form of electric vehicles. .

Quoting Niti Aayog, he said that if India achieves an EV sales penetration of 30 percent for private cars, 70 percent for commercial cars, 40 percent for buses and 80 percent for two- and three-wheelers by 2030. You can achieve a saving of 846 million tons of net CO2 emissions and an oil saving of 474 million tons of oil equivalent (MTOE).

In India, two-wheeled electric vehicles have been the largest share of electric vehicle sales with sales of around 54,800 in 2018. Compared to this, electric car sales have been around 2,000 in 2017.

Citing data from the Society of Electric Vehicle Manufacturers (SMEV), the survey said that Uttar Pradesh topped the list of states with the highest EV sales with around 6,878 units in 2017-2018, followed by Haryana with 6,307 units and Gujarat in 6,010 EVs.

Maharashtra reported sales of around 4,865 EV units, while west of Bengal He came fifth with sales of 4,706 units.

Globally, the survey said that sales of electric vehicles increased at an accelerated pace, from just over 2,000 units sold in 2008 to more than 10 lakhs in 2017. More than half of the sales were made in China.