India's Shift to Electric Mobility

The Automotive sector is a pivotal contributor to India’s economic growth and contributes 49% to India’s manufacturing GDP. In FY24, the country produced approximately 49 lakh passenger vehicles, 9.9 lakh three-wheelers, 214.7 lakh two-wheelers, and 10.7 lakh commercial vehicles. The world’s primary modes of transportation are facing two major problems: rising oil costs and increasing carbon emissions. As a result, electric vehicles (EVs) are gaining popularity as they are independent of oil and do not produce greenhouse gases. However, despite their benefits, several operational issues still need to be addressed for EV adoption to become widespread. This research delves into the evolution of EVs over time and highlights their benefits, including reducing carbon emissions and air pollution. India's transition from traditional internal combustion engines (ICE) to electric vehicles (EVs) is driven by a combination of environmental, economic, and policy factors. This shift is aimed at reducing the country's dependency on fossil fuels, lowering carbon emissions, and promoting cleaner air, particularly in urban areas plagued by pollution. Government initiatives such as the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme.