In the fast lane
The automobile manufacturers’ push for electric vehicles (EVs) comes at a time when the government is trying to drive the segment in a big way, expecting around 5 million electric vehicles to be sold by around next 15 years. The government wants all the vehicles produced in the country after 2030 to be EVs and that is why even special leeway has been given to EVs in the recently-introduced goods and services tax regime. As per a report released by Centre’s think tank Niti Aayog, the adoption of electric and shared vehicles could cut petrol and diesel consumption by 156 million tonne.
Reducing dependence on oil
Niti Aayog says that India imported 80.9% of its oil in 2015–16, up from 77.6% in 2013–14. But total cost of crude imports was $81.5 billion lower in 2015–16 ($73.9 billion) than in 2014–15 ($155.4 billion) due to historically low global oil prices.
Collateral costs
Everyday nearly 50,000 new motor vehicles (2-, 3-, and 4-wheelers) register in India, with a 10% increase in vehicle registration annually for the past decade. Despite a very low number of vehicles per capita, traffic congestion and pollution are already serious issues in India. The country is home to 10 of the world’s 20 most polluted cities.
