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Indian companies are seeking government support to reach their 2030 EV goals

File Photo: Mahindra Fanstar Electric Concept SUV is on display after being unveiled at the India Auto Expo 2020 in Greater Noida, India on February 5, 2020. REUTERS / Anushree Fadnavis / File Photo

October 14, 2021

Adity Shah

New Delhi (Reuters) -Indian companies aim to have at least 65% of all new car sales by 2030, according to the CEO-led organization of the world’s leading companies We are seeking government support to achieve this.

More than 25 companies, including automakers Mahindra & Mahindra and Volvo, oil giant Shell, and clean mobility start-ups, set solid goals and framework policies to help India move to electric vehicles (EVs). I want WBCSD) said Thursday.

This is the first collective push by an Indian company to switch to clean mobility, taking place weeks before the United Nations Climate Change Conference. This is considered essential to elicit more commitment from the government to stop global warming.

India is the world’s third-largest greenhouse gas emitter after China and the United States and is crucial in the fight against climate change.

“After India’s renewable energy sector has grown rapidly, decarbonization of transport is India’s next big opportunity to address climate change,” said Joe Phean, director of WBCSD in India.

The WBCSD said in a statement that achieving the 2030 target could provide an investment opportunity of about $ 200 billion, adding that India’s road transport emissions would also be reduced by 15%.

South Asian countries have some of the most polluted cities in the world, and the government is urging automakers to switch to EVs to clean the air and reduce expensive oil imports. However, companies are lagging behind in adapting, saying EV prices are still high as battery costs are rising and charging infrastructure is inadequate, which is negatively impacting sales.

In recent months, India has strengthened schemes to incentivize companies to manufacture EV https://reut.rs/3aywPPi and batteries locally, increase supply and many federal and state benefits to EV buyers. Complements.

By 2030, companies want to sell 30% of new cars, 70% of new motorcycles and scooters, and 35% of new buses sold by electricity, according to WBCSD.

To achieve this, they have legalized the taxi service for electric bicycles to the government, granted fleet permits for electric tricycles, ensured easy access to financing and leasing opportunities for electric vehicles, and public chargers. We hope to speed up the installation.

Indian bus maker JBM Group, motorcycle maker Hero Electric, commodity vehicle maker Switch Mobility, energy companies Fortum, IKEA and Lease Plan are also driving this move.

(Report by Aditi Shah, edited by Mark Potter)



Indian companies are seeking government support to reach their 2030 EV goals

Source link Indian companies are seeking government support to reach their 2030 EV goals

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