World Environment Day: EVs Bringing a Silent Revolution to India

Prime Minister Narendra Modi had declared that India will reduce anticipated emissions by one billion tones from now until 2030, a critical and ambitious boost to the impetus towards improving the climate system. India has made the decision to attain energy self-sufficiency over the next 25 years, and one of the major avenues for doing so is through transportation.

At the COP-26 (climate meeting), Prime Minister Modi stated that India will attain 50% of its installed electricity capacity from non-fossil sources by 2030. 

He declared that "the silence of electric vehicles is bringing a new silent revolution to the nation." 

The government has been offering EV purchasers a range of incentives. Such initiatives include lowering the interest rates on vehicle loans, a production-linked incentive programme, an income tax refund on EV loans, the lowest possible GST rate for EVs, and the installation of charging infrastructure.

World Environment Day: Startups Leading The EV Revolution

Ather Energy, India’s leading electric scooter manufacturer is committed to helping India reach its 2030 target of 30% electric mobility. The National Electric Mobility Mission Plan and the Faster Adoption and Manufacturing of Electric Vehicles (FAME) programme, which offers financial incentives to EV customers and producers, are two significant policies that have been reshaping the sector over the past several years. According to Vahan’s 2022 data report, the digital national vehicle registry, a total of 72,474 electric two-wheelers were registered on Vahan in June; up 547% as compared to 2021.

Swapnil Jain, Co-founder & CTO, Ather Energy believes that electric scooters are a clear upgrade over ICE scooters, not just in performance and ownership but also environmentally. Electric vehicles are the single biggest hope for achieving a decarbonized world. Faster adoption of EVs is the first step towards the clean and green 2030 goal and India has adapted well to the transition to sustainable modes of transportation, largely led by electric two-wheelers.

To meet more eco-minded entrepreneurs on World Environment Day, click here. 

What Reports Has To Say About EV Revolution?

According to a Fortune Business Insights analysis, the Indian EV industry, which was estimated to be worth $3.21 billion in 2022, is predicted to increase to $113.99 billion by 2029, at a compound annual growth rate of 66.52%. Following these realisations, Ather Energy introduced a replacement battery pack, resulting in an e-scooter with 2 battery packs, with lifetime emissions 35% lower than a 110 cc ICE scooter. According to the research, depending on how depleted the battery pack is, it may be recycled or repurposed for energy storage purposes.

In a price-sensitive nation like India, the adoption of EVs is being influenced by cost, sustainability, as well as environmental concerns. EVs provide a more economical, long-term option as oil prices rise. Their rising popularity is partly also a result of their lower operating and maintenance expenses compared to conventional petrol-powered automobiles.

During the India Energy Week in February, the  Prime Minister, whilst addressing the critical issue of battery cost in EVs, intimated that it accounts for 40–50% of the cost of the vehicle.  He mentioned that the PLI programme of 18,000 crores, launched by the government  will be a big step towards producing sophisticated chemical cells with a 50 GigaWatt-hour capacity. Ather Energy has exceptional performance and an unmatched track record that complements the government’s plan. The Ather battery pack is unmatched with 450M+ miles of range across landscapes, weather, and the roadways. The 3.7 kWh battery pack provides exceptional, reliable performance year after year, owing to its lithium-ion cells and one of the best battery management systems in the industry.

As the nation grows stronger diplomatically, with growing India-US relations, Mukesh Aghi, President of US India Strategic and Partnership Forum claims that both the countries have gradually aligned technologically, economically and geopolitically. This has opened doors for numerous opportunities in various sectors. The case is especially so in the automobile and sustainable energy industry, as advanced technologies’ experts and investors plan to invest in India. A significant technological transition is now taking place in the automotive business. Electric is now the favoured option because of its inherent efficiency, which will influence urban commutes and the cities of the future. Future travels will be completely transformed by intelligent cars, and the Ather 450 is on the verge of becoming a spectacular reality.