If India meets its target of 30% electrification by 2030, it would result in 15% reduction in the crude oil import bills: CEEW
Says if that were to happen there will also be a reduction of 16 million tonnes of CO2 emissions and 17 per cent reduction in PM and NOx emissions
- Sep 8, 2023,
- Updated Sep 8, 2023 6:00 PM IST
On the eve of World EV Day, the Council on Energy, Environment and Water (CEEW) says that given the cost parity of the EV variants in two-wheeler and three-wheelers segments with their ICE counterparts the growth trajectory will continue in the future as well and can very well be aligned with the government’s target of 30 per cent EVs by 2030.
CEEW’s analysis indicates that if the target of 30 per cent EVs by 2030 were to be realised, this would result in reduction of 16 million tonnes of CO2 emissions, 17 per cent reduction in PM and NOx emissions and 15 per cent reduction in the crude oil import bills. “CEEW analysis also highlights that these gains will increase if public transport, primarily buses, are increased with the EVs in the cities. With the launch of the PM e-bus sewa scheme, the 169 Indian cities will receive 10,000 e-buses which will bolster the public transport network in tandem with the adoption of zero-emission technologies,” Himani Jain, Senior Programme Lead, CEEW said.
Currently, the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME) incentivises EVs across different vehicle categories and has set certain targets to promote adoption. As per CEEW-CEF analysis, 30 per cent of the FAME 2 incentive has been disbursed as of September 2022. Among the different vehicle segments, incentivised 56.1 per cent of the 10,00,000 e-2Ws and incentivised 12.5 per cent of the 5,00,000 e-3Ws are targeted.
“The combined sales report of 2021-22 and 2022-23 shows that the market for electric vehicles is jointly led by e-2Ws and e-3Ws, comprising goods and passenger segments. They formed 60 per cent of the total market together in the year 2022 as per MoRTH’s Vahan dashboard.
In India the demand for electric vehicles is increasing at an exponential rate. As of August 2023, there are almost 30 lakh electric vehicles registered pan-India. One third of these vehicles were sold alone in the first half of 2023,” she said.
However, she adds, there are larger gains in terms of jobs, growth and sustainability with the adoption of public transport in tandem with EV adoption as per CEEW analysis. “Hence, along with EV adoption it will be imperative to ensure adequate supply of buses in Indian cities to develop a robust public transport network,” she said.
On the eve of World EV Day, the Council on Energy, Environment and Water (CEEW) says that given the cost parity of the EV variants in two-wheeler and three-wheelers segments with their ICE counterparts the growth trajectory will continue in the future as well and can very well be aligned with the government’s target of 30 per cent EVs by 2030.
CEEW’s analysis indicates that if the target of 30 per cent EVs by 2030 were to be realised, this would result in reduction of 16 million tonnes of CO2 emissions, 17 per cent reduction in PM and NOx emissions and 15 per cent reduction in the crude oil import bills. “CEEW analysis also highlights that these gains will increase if public transport, primarily buses, are increased with the EVs in the cities. With the launch of the PM e-bus sewa scheme, the 169 Indian cities will receive 10,000 e-buses which will bolster the public transport network in tandem with the adoption of zero-emission technologies,” Himani Jain, Senior Programme Lead, CEEW said.
Currently, the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME) incentivises EVs across different vehicle categories and has set certain targets to promote adoption. As per CEEW-CEF analysis, 30 per cent of the FAME 2 incentive has been disbursed as of September 2022. Among the different vehicle segments, incentivised 56.1 per cent of the 10,00,000 e-2Ws and incentivised 12.5 per cent of the 5,00,000 e-3Ws are targeted.
“The combined sales report of 2021-22 and 2022-23 shows that the market for electric vehicles is jointly led by e-2Ws and e-3Ws, comprising goods and passenger segments. They formed 60 per cent of the total market together in the year 2022 as per MoRTH’s Vahan dashboard.
In India the demand for electric vehicles is increasing at an exponential rate. As of August 2023, there are almost 30 lakh electric vehicles registered pan-India. One third of these vehicles were sold alone in the first half of 2023,” she said.
However, she adds, there are larger gains in terms of jobs, growth and sustainability with the adoption of public transport in tandem with EV adoption as per CEEW analysis. “Hence, along with EV adoption it will be imperative to ensure adequate supply of buses in Indian cities to develop a robust public transport network,” she said.