India's Adoption Of EVs Can Help Save 4.15 Lakh Crore On Oil Import Each Year

In the last couple of years, the rise of electric vehicles has been in full swing. We have to thank certain Indian authorities for this positive change. However, according to the Confederation of Indian Industry(CII), the authorities could even take this encouragement many steps further.

So this suggestion has basically come from FAME (Faster Adoption & Manufacturing of (Hybrid and) Electric vehicles) which has been ongoing for a while. That scheme intends to push forward for the EV future of India. CII commented that they must support this strategy with other actions to boost up the adoption rate for EV. Among these actions are the creation and adoption for EV, skill development for the whole EV industry.

The president of CII, Vikram Kirloskar has said:

What India has to do?

Even though the government has made many efforts to adopt the EV to the transportation system of India, at the moment, the adoption rate for EV is only at 1% on all the vehicles. The suggestion of CII says that more benefits and incentives through programs like FAME will increase the adoption speed of these programs.

Look at it in this way, if you use an electric vehicle you will only need to supply energy to use it. And we could harvest this amount of energy through many sources. And to make the EVs truly green, we must use a renewable energy source. All that means is that we will need to increase the total amount of green energy sources in the country to supply for the increasing number of EVs. One other strategy is to make environmentally sustainable batteries to support the EVs.

What is the reward?

CII has also mentioned a Centre's study saying that they can reduce 64% of the energy required for the Indian transportation system if they all adopt EVs. With that rate, by 2030, Indian could reduce 37% of the current carbon emissions just by adopting truly green EVs and ecosystem of connected mobility.

Let's do some math about the prevalent ways of Indian energy demands. Follow the estimation, the dependency of oil import from Indian has risen from 78.3 %  to 83.7% in the past ten months.  Transportation is the biggest fuel consumer.

If the whole country shifts to an ecosystem of EV then India could reduce up to 156 million tonnes of oil (same in petrol and diesel) by 2030. Transfer it to money and we have the whopping number of Rs 4.15 lakh crore could be saved.