Tech Startups Might Be The Force Driving Indian Electric Vehicle Revolution

Our traffic and the consequences it brings are getting worse, and we need to do something about it. To deal with this problem, electric vehicles seem to be the best way forward. In the event to announce the Interim Budget, our minister for finance said that the government wanted EVs to make up 30% of all vehicles by 2030. To realize that goal, Rs 100 crore has been added to the EV fund for the time from 2019 to 2020. This much investment is to turn vehicles at the capital city to electric-powered ones, focusing on public transport.

India is focusing on EVs, especially for public transport

The government is putting its attention to EVs, and they also lay down new policies to facilitate this change. However, the main force that is driven this trend comes from the private sector. Below we will take a look at how tech startups in India are fuelling the EV revolution in India.

Indian Manufacturing Power

The first step to turn the country into a nation of EVs is to enhance the local manufacturing power. The National Mission on Transformative Mobility has been set up recently to head to a future when India can make its own EVs.

That is for the public sector. At the same time, local startups are making a big leap in designing and manufacturing. This newer business has gained the attention of the government and investors alike. It seems like EVs business has everything it ever needs to blossom, from favorable policies to resource from key companies in the field.

For the time being, India is drawing its batteries mainly from import as the country has not yet had what it takes to manufacture its own. This year, the state plans to buy from abroad 10% more of batteries, which can be a motive for manufacturers to increase the price, or it can encourage local ventures to make their own, thus keep the price stable. In this scenario, the best way for India is to make its batteries.

Startups are speeding up with lithium-ion batteries

However, the future is bright for the country as startups are speeding up with lithium-ion batteries that India can make locally. This new invention can be both practical and environmentally-friendly. The best part is, they can be changed in no time, so there is no need to wait for it to be charged so that the vehicle can continue operating.

Shared Vehicle Solution

The Indian government and the private sector are sharing the same vision by focusing on shared vehicles as the way forward. While the former uses public transport, the latter develops a similar and complementary plan with EVs on offer to be hired via an app. This solution might be sufficient for people who have to travel from public transport stations to work or school. The EVs will be left close to those spots, and people can hire them to cover that short distance.

People can hire EVs to travel form public transport stations to work or school

The app will also provide needed information like the state of the battery and whether the remaining power is enough to get users where they want to go. The short-distance trips make up 60% of total Indian commuting so if this proves to be a viable solution, India will see a large portion of its problem solved.

As the market for EVs grows, Indian ventures will have more chances to make a profit locally. With the government doing what needed and the biggest names in transportation sector backing, a future when the country runs on EVs does not seem to be so far off anymore.

If this trend yields fruitful results, consumers will see the benefits of switching to EVs, thus driving more resource to this emerging field, making the vision for EV closer to reality than ever.