New Delhi. India’s G20 Sherpa Amitabh Kant has advised India to target 100 percent electric two-wheeler sales in the next five years. He said that this will not only reduce air pollution, but also ensure that we become a world champion in the production of electric two- and three-wheelers. Since public transportation is the backbone of a civilized society, we should also pay attention to electric buses. Speaking at the National Dialogue on Emerging Trends in Electric Mobility organized by the Council for Energy, Environment and Water (CEEW), Kant further said that sales of electric vehicles in the country are on the rise.
He said that to encourage the transition of electric mobility, funding money is very important. Mechanisms such as first-loss guarantees, credit expansion and hybrid financing need to be introduced to ensure an adequate flow of private capital. For this, there should definitely be a target to install 50 lakh fast chargers and emphasize production-linked incentives to increase battery sharing and local manufacturing.
Let us tell you that in the first half of the 2022-23 fiscal year, peak sales of electric vehicles occurred. Among these too, the maximum number of electric vehicles have been sold in UP. While EV expansion has been the highest in Delhi. The electric two-wheeler market has grown the most in states with the most incentives. While after the introduction of the incentive policy, EV sales in Assam, Goa and Gujarat have increased 20-fold. Two-wheelers and electric rickshaws accounted for 93 percent of total EV sales in the first half of the 2022-23 fiscal year.
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According to the report, electric vehicle (EV) sales in the first half of the 2022-23 fiscal year have been more than in the entire previous fiscal year. In September 2022, EV’s share of total car sales was 6 percent, which was just one percent more than in January 2021. EVs have seen a strong increase in sales and phenomenal growth. in the market expansion after the Covid pandemic. The CEEW-CEF study found that states with consumer incentive policies have seen twice the market growth compared to states without incentives. Most of the incentives received by electric vehicles have shown clear growth in the market. High-incentive states like Assam, Goa and Gujarat saw an almost 20-fold increase in EV sales within six months of being notified of their incentive policies. At the same time, states with fewer incentives saw only 4.5x growth in their EV market.
Let us tell you that 21 states in India have notified their own EV policies. Of these, 15 states are providing incentives in the form of subsidies to buyers of electric vehicles. Uttar Pradesh and Tamil Nadu have recently declared their EV policies.
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FIRST POSTED: March 17, 2023 21:39 IST
