Data dashboard on adoption and Forecast of EV launched by Renewable Energy Minister

By 2030, 1.6 crore EVs will be sold annually in India, according to the EV-Ready India dashboard, which projects a 45.5% compound annual growth rate in electric vehicle sales between 2022 and 2030.

The new EV-Ready India Dashboard (evreadyindia.org) was unveiled by Union Minister of Power and New & Renewable Energy, Shri R. K. Singh, in New Delhi today. The dashboard is a free digital platform that focuses on near real-time electric vehicle adoption and forecasts, associated battery consumption, charging density, and market growth patterns. It was created by policy and industry professionals at the think tank OMI Foundation. It is anticipated that the dashboard will provide enhanced inclusivity for various stakeholders, including the automotive sector, policymakers, and electric car end consumers.

The platform aims to meet the demand for macroeconomic data and research on India's rapidly expanding electric mobility market by utilizing data and artificial intelligence. Between calendar year (CY) 2022 and CY 2030, the EV-Ready India dashboard projects a 45.5% compound annual Growth Rate (CAGR) in electric cars. This means that, from 6,90,550 E2W sales in 2022 to 1,39,36,691 E2W sales in 2030, there would be a significant increase in E2W sales.

"Nobody can stop the electric future; diesel and gasoline SUVs will become a thing of the past."

The Union Minister for Power and New & Renewable Energy declared that the future will be electric while speaking to attendees at the launch ceremony, including officials of the World Bank, industry, state and federal governments, and other interested parties.

The electric future is here. There is no stopping this. SUVs powered by gasoline and diesel will become obsolete as storage costs decline. We will have electricity, which is appropriate given our trajectory as one of the world's greatest economies.

According to Shri Singh, India must make the transition to electric vehicles immediately. "We aim to enhance our influence on strategic matters and elevate our economy from the fifth to the third rank. The main justification for electric vehicles is that they call for energy independence.

"Transportation decarbonization is vitally necessary to cut carbon emissions."

The government is aggressively pushing electric vehicles (EVs), according to the Union Minister for Power and New & Renewable Energy, who underlined the need to decarbonize the transportation sector. Transportation contributes 18% of emissions, somewhat less than industry. "When he was Gujarat's chief minister, our prime minister purchased solar power for Rs. 15 per unit. He was criticized at the time for not purchasing thermal power, which was available for Rs. 4.50 per unit, but he insisted that unless he did so, the price would not decrease. Additionally, solar energy is now less expensive. This is the reason we are advocating for electric vehicles.

The Minister remarked that, even before anyone had begun to talk about EVs, the government had released instructions for charging electric vehicles in April 2018.

According to the Minister, the government has launched a dashboard at https://evyatra.beeindia.gov.in/ that will allow us to see charging station locations and occupancy status. You can reserve charging space using that dashboard before you go to your location.

"Introducing a new battery PLI to boost output and lower storage costs"

Speaking about the barriers to the widespread use of electric vehicles, the Minister stated that one of them is cost, which is a result of the expense of storage. "We have developed a Production Linked Incentive for the battery manufacturing industry, and we want to develop another PLI. We must lower the cost of storage. The West continued to emphasize the need to cut carbon emissions, but they took no action to lower the cost of storage. We are releasing another PLI in order to boost manufacturing, capacity, and volumes since the cost of storage can only decrease with volume.

"We need to move away from lithium and toward other chemistries; supply chain issues are strategic issues."

EVs Are Essential for Addressing Climate Change and a Growing Economy"

Shri Singh underlined how important it is to embrace electric vehicles for both combating climate change and developing economies like India. "Reforming and legitimizing the climate change narrative is crucial. Developed nations have dominated the conversation about climate action, which is blatantly hypocritical. While industrialized countries' per capita emissions are three times higher than the global average, ours are just one-third that of the world. Despite making up about 17% of the world's population, we comprise only 4% of the planet's legacy carbon?dioxide?load.