As we discussed in the previous blogs the global automotive industry is going through a huge shift which is, from IC engine-powered vehicles to electric-powered vehicles. This shift made the automotive industries in all sectors revisit their strategy for Electric vehicles and made electrical vehicles their top priority for the coming years.
Not only the companies are excited about the shift the government bodies are excited as well because there are many certain advantages for electric vehicles that can be harnessed for helping their countries in a wide variety of ways.
Now, let us discuss the importance of electric vehicles in India and the impact they bring to the nation and its economy.
#1 Improved air quality
In certain parts of India, it is considered a luxury if you have access to cleaner air especially if you live in Indian cities. India has been ranked 5th globally not for the quality of air but the lack of it. Certainly, the population, the country’s dependency on thermal power plants for electricity has a certain role on that, the major contributor is IC engine powered vehicles and a considerable percentage of IC engine vehicles in India is outdated and performing poorly in terms of fuel efficiency.
- In India, nearly 29 % of the pollution is caused by the IC engine powered vehicle
- 21 out of 30 cities with low air quality in the world is in India.
- IC engines are hugely inefficient because it loses 70% of the energy as heat due to friction and other reasons.
#2 Better health for the citizens
Although it might be a little difficult to comprehend, it is true we witnessed it during the lockdown. As nature was healing we were also healing. Those who live in urban areas could keep aside their asthma medications at least for a while.
Do you know that
- Over a million Indians die prematurely every year due to air pollution
- Long-term exposure to particulate matter can cause respiratory and cardiovascular disorders, including asthma, bronchitis, COPD, lung cancer, and heart attack
- India also has the largest numbers of COPD patients and deaths as a result of the disease
Since electric vehicles do not have any sound of their own, noise pollution also can be greatly reduced. Noise pollution causes people to have both physical and psychological disturbance.
#3 The economical boost and business opportunities
India is in the fourth position globally when it comes to the automotive industry. India is expected to be the world’s third-largest automotive market in terms of volume by 2026. India can leverage this by increasing the market for Electric vehicles thus India can attract electric vehicle manufacturers around the globe and convince them to set up their manufacturing plants in India thus pawing the ways to become a global hub of Electric vehicle manufacturing.
- India has a huge potential to become the global manufacturing hub of Electric vehicles
- Once companies set up their manufacturing plants in India, the unemployability rate can be decreased drastically
- India imports almost 83% of its petroleum from other countries
- In total 100 % of petroleum products,70% of diesel, and 99.6% of petroleum are used by the automobile industry
If India could reduce the consumption of fossil fuel that it buys from other countries certainly it is going to help the Indian economy. The dependency on petroleum exporting counties can be reduced to an extend by shifting to electric vehicles and generating electricity from renewable energy sources.
We have an interesting post about the electric vehicle business opportunities.
#5 Benefits that you get !!!
Now let us discuss a few benefits you are going to get as a proud owner of an electric car.
#5.1 The maintenance cost is less.
Since there is less number of moving machinery parts you can save a lot of time and money from maintenance. The IC engine’s fuel injection mechanism, valve timing mechanisms, gear trains, etc are very complex and have a large number of parts. Electric vehicle powertrain is less complex and comprised of fewer moving parts.
Regenerative braking is another attractive feature that results in energy saving as well as longer life for the friction braking system.
#5.2 Low running costs
Another significant benefit that EVs have over traditional IC engines is their low operating costs. For example, the Hyundai Kona can travel about 450 kilometers on a single charge, bringing the operating costs down to even less than a single rupee per kilometer! Isn’t it incredible? This is the most critical of all the advantages of purchasing an electric vehicle in India!
#5.3 Charging at your convenience
You may be familiar with the crowds that appear out of nowhere at gas stations during rush hour. Also, planning to get gas when on your way to work will cause you to be late. In this situation, EVs have a significant benefit because you can easily plug in your vehicle at home for 4-5 hours and be ready to go without delay. Read more about charging stations here.
#5.4 Government incentives
The advantages of purchasing an electric vehicle are not limited to the vehicle itself. The Delhi government now wants you to buy an electric vehicle because electric vehicles are the way of the future! The Delhi government recently announced a new electric vehicle policy in which you will get up to 1.5 lakhs in additional benefits.
The FAME 2 policy announced by the central government helps to get a bunch of incentives and other benefits for an Electrical vehicle owner.
It is evident that India has to embrace the shift from IC engine-powered vehicles to electrical vehicles which takes place globally. If India could identify the potential of the opportunity it would certainly help India to achieve new heights on a global scale. It can be made use to leverage the make-in-India campaign.
At the same time, the government has to make sure that the electric vehicle charging infrastructure available everywhere.
The wind is blowing in our favors it’s up to us now. Let us use it wisely, shall we??
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- Improved air quality
- Better health for citizens
- Economical boost and business opportunities
- Benefits to the EV owners