A Study of India’s Transition to Electric Mobility and Its Impact on Associated Partners

<div class="section abstract"><div class="htmlview paragraph">The transition from internal combustion engine (ICE) industry to electric vehicle (EV) industry has significant financial implications for both the automotive industry, government, and associated partners. The shift to EVs could lead to savings in foreign exchange reserves, the creation of new jobs, and a reduction in greenhouse gas emissions. However, the transition could also result in job losses in the automobile and its associated manufacturing industry. This study aims to analyze the impact of this transition on different stakeholders in India. The study takes into account the different financial aspects that includes production, technology, government policy, skilling, employability, job creation, and other associated aspects on Indian economy. For the projected study different cases were considered with 2030 as the projected year with 30% EVs. A modest attempt is made to analyze the impact on associated partners. The findings of the study suggest that the transition to EVs could lead to reduced imports, job creation in new emerging areas, reduction in emissions, and enhanced technical and innovation capabilities in the EV sector if collaborative efforts are there among three major stakeholders, i.e., government, automotive, and petroleum industry.</div></div>