Days after the Centre approved amendments in the
electric vehicle charging guidelines to push the growth of electric
vehicles, industry experts and investors on Wednesday pointed out the
policy, infrastructure, resource and technical challenges in
transitioning to electric mobility.
The industry leaders who discussed the future of electric vehicles at
the EVConIndia event in the city are of the opinion that government
should adopt a proactive and expedited approach towards
infrastructure creation and dilution of import rules, among others, to
attract investors and manufactures to produce affordable EVs.
“There are various hurdles in the adoption of electric vehicles. Apart
from lack of awareness among the consumers, financing is a major issue.
In the Internal Combustion Engine (ICE) category, 70% of the
vehicles are financed but for EVs it’s only about 3%. A
proper ecosystem has to be built to push growth of EVS,” said Naveen
Munjal, managing director, Hero Electric.
Speaking about government efforts and the policy incentives for the
market, Rajeev Chaba, managing director, MG Motors pointed out that
the government still has to provide clarity on the rules around EVs.
“There’s still no clarity over the rules and policy directives. That needs
to be addressed. From e-rickshaw to buses and four-wheelers, all of
them require different solutions, different ecosystem and different
solution providers,” noted Chaba.
Reiterating Chaba’s argument on more policy incentives, Koushik
Bhattacharya, director and head (Industrials) of Avendus Capital, said
that lack of price parity between EVs and the vehicles that run on
fossil fuels is an immediate challenge for the EV industry in India.
“The high upfront cost of such vehicles is prohibiting the transition,”
Speaking on the occasion, Pavan Choudary, public intellectual & MD of
Vygon India said, “Just as banks are investing in blockchain
technology which might disrupt them, entrenched players in the ICE
markets should also put greater energy behind developing EVs. Those
segments of the industry which are disrupted should be made
beneficiaries of the new technology.”
Speaking on behalf of government’s commitment towards electric
mobility, Sameer Pandita, director BEE, ministry of power, told TOI,
“The current guidelines have been revised based on the
recommendations made by the industry and experts. Great stress has
been laid on charging infrastructure,” He added that the government is
also focusing on subsidies to bring down the up-front cost of making
- Govt’s electric vehicle policy receives mixed reaction from carmakers, industry stakeholders – Financial Express
- EVConIndia – Industry Experts’ Perspective on Mapping The Indian Terrain and Charting The Course
- Can Government’s Push to Develop Charging Infrastructure Increase Demand For Electric Vehicles? – Enterpreneur
- One danger of electric vehicles no one’s talking about – The Week
- Electric Vehicle: How Prepared is India?