India's "Only Electric Vehicles by 2030" plan a big opportunity for EV makers & suppliers
What is India E-Mobility Plan 2030 & why is it so crucial?
India is looking at having an all-electric car fleet by 2030. The country will soon embark on an audaciously ambitious program aimed at switching most, if not all, of its vehicles sold, to battery power by 2030. The scheme, which is in its final stages of drafting, will kick off later this year and the government expects it to scale up within three years.
What is Unique about this plan? At the heart of the plan's success will be the battery leasing strategy for certain group of vehicles. The plan includes the sale of vehicles without batteries to improve affordability. Also it reduces the need for subsidies on car price substantially. There will be tax breaks for manufacturers to incentivize “Make in India” for vehicles & drive trains though. As stated by the Indian Minister for Power & renewable Energy, there will also be limited Government hand holding for vehicle manufacturers for 2-3 years.
A big opportunity for EV makers & suppliers! First Phase will include two- and three-wheelers and city busses.