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Features Writer Sanjib Roy

Sanjib Roy

Features Writer
     

Growing Electric Vehicle Charging Business


EV sales are rising, and an eclectic mix of companies are getting into the charging game. Utilities like Duke see a revenue opportunity that could slip away.

With electric vehicle sales climbing, utilities are investing in thousands of new EV charging stations, recognizing that if they don't move now, they could lose out on a growing and increasingly competitive market.

A lack of charging stations has been an impediment to electric vehicle sales in many parts of the country, but that landscape is starting to change.

Thinktank NITI Aayog and the Rocky Mountain Institute (RMI) have launched a report on the opportunities for the automobile sector and the government under the Faster Adoption and Manufacturing of Electric Vehicles II (FAME II) scheme.

Titled 'India's Electric Mobility Transformation: Progress to Date and Future Opportunities', the report details the oil and carbon savings vehicles under FAME II could deliver.

The FAME II scheme, notified by the Union Cabinet in February 2019, wants to accelerate the Indian government’s commitment to a clean mobility future, with electrification of transportation as a primary focus area. This involves readying the market for faster adoption of EVs for durable economic growth and global competitiveness for India’s automotive industry.

Key highlights from the report:
1. Effects of FAME II will go beyond vehicles eligible under it.
2. There are considerable energy and CO2 savings associated with two, three, and four-wheeler vehicles and buses covered by FAME II over their lifetime, along with potential savings associated with greater adoption levels by 2030.
3. Electric buses covered under FAME II will account for 3.8 billion vehicle kilometres travelled (e-vkt) over their lifetime.
4. To capture the potential opportunity in 2030, batteries must remain a key focal point as they will continue to be the key cost driver of EVs.
5. Vehicles eligible under FAME II scheme can cumulatively save 5.4 million tonnes of oil equivalent over their lifetime worth Rs 17.2 thousand crore.
6. India needs its auto industry's active participation to ease electric mobility transition.
7. The auto and battery industries could collaborate to enhance customer awareness, promote domestic manufacturing, promote new business models, conduct R&D for EVs and components, and consider new business models to promote EVs.
8. The government should focus on a phased manufacturing plan to promote EVs, and provide fiscal and non-fiscal incentives for phased manufacturing of EVs and batteries.
9. Different government departments can consider a bouquet of potential policies, such as congestion pricing, ZEV credits, low emission/exclusion zones, parking policies, etc. to drive adoption of EVs.
10. India's EV market is poised for growth with a blend of policies, such as FAME II, and the automotive industry’s willingness to provide new mobility solutions to the citizens of the country. Such a transformation will create enormous economic, social and environmental benefits for the citizens of India.
Sanjib Roy, Founder of Academy of EV Technology :

News submitted on: 2019-05-21 19:19:40.

Growing Electric Vehicle Charging Business


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