The success for electric cars in India has been largely elusive due to the lack of infrastructure and the high cost of acquisition, which has made these cars a rare sight on our roads. However, you might soon be able to get an electric car without burning a hole in your pocket.
In a recent statement, Minister of Power, Coal, New and Renewable Energy, Piyush Goyal said that the Indian government is working on a scheme to provide electric cars on a zero down payment option.
The government is aiming to make the country, a 100 per cent electric vehicle nation by 2030. Elaborating on the proposal, Piyush Goyal stated that the government is working on the viability of providing an electric car for zero down payment,while addressing the CII Annual Session 2017 on Saturday.
While the acquisition cost will be free, people can pay the installments out of the savings on petroleum products. The scheme will be self financing as per the minister and will not need any support from the government or any other kind of investment from other people.
India unveiled ‘National Electric Mobility Mission Plan (NEMMP) 2020’ to address the issues of National energy security, vehicular pollution and growth of domestic manufacturing capabilities.The world has taken note of the discussions that India may be planning for a major shift to electric vehicles by 2030.
The aim is to make India, the first country of its size to have 100 per cent electric cars by 2030.
courtesy:Fleets and Fuels.com
E-commerce companies, Indian car manufacturers like Reva Electric Car Company (RECC), and Indian app-based transportation network companies like Ola are working on making electric cars more common over the next couple decade.
Chetan Maini, the man who revolutionised the Indian car industry by launching Reva Electric Car Company (now Mahindra Electric) in 1995.courtesy: English News-Dailyhunt
Goyal is of the view that initially the government can handhold the electric vehicle industry for 2-3 years to help it stabilise. Citing the example of Maruti, which has logged over 30 percent profit this time, he explained that the government had supported India’s largest car maker initially, which eventually led to development of the big automotive industry in the country.
Goyal told reporters later that the Ministry of Heavy Industries and the NITI Aayog are working on a policy for promotion of electric vehicles.
The minister pointed to the cost factor, saying people would like to buy an electric vehicle when they find it cost effective.
About offshore wind projects, Goyal said these are more like an R&D project. The minister suggested that big PSUs, including NTPC,can initially invest in such projects that will lead to the development of this segment in coming years.
Goyal said that in the last 3 years, India’s energy consumption has grown by about 6.5% compounded annual growth rate (CAGR), more than the figure for the last 10 years. He said, “Through UJALA, the LED distribution programme, we have already seen about 500 million LED bulbs sold in the last two years. My job is to improve India’s energy efficiency to reduce consumption wherever it is wasteful and ensure that demand is met fully.”
He made a point that Ujwal DISCOM Assurance Yojana (UDAY) has not been just about financial re-engineering but financial discipline. The UDAY scheme is meant for revival of debt stressed discoms.