The EV industry is being supported by governments worldwide through subsidies and rules. Customers want low-emission transportation instead of fossil fuel-powered cars that are putting the environment at risk.
All big international and Indian OEMs have invested in and introduced EVs. The EV market has increased due to numerous new OEMs attracting significant investments and releasing highly successful models.
EVs are, undoubtedly, the future of transportation and driving. Although the battery chemistry may incorporate newer materials, advancements will continue. For the following reasons, the EV transformation trend cannot be reversed:
Market Growth
India has the world’s most significant untapped EV market, particularly for two-wheelers. The penetration of electric vehicles has dramatically increased over the past few years due to numerous automakers releasing these vehicles quickly. According to a recent estimate, the market for electric vehicles (EVs) is predicted to be worth at least 475 billion by 2025. Up to 15% of two-wheelers are expected to be electrified by 2025, up from the present 1% penetration rate.
Government Measures
The government implemented several measures in line with the “Make in India” campaign to encourage local manufacturing. India is heavily dependent on foreign nations like China for its supply chains for lithium. It restricts the widespread adoption of EVs. A well-established EV infrastructure will likely be developed nationwide due to current policies, such as the battery swapping policy.
They were introduced to support the transition to green energy generation and decentralization of energy distribution. These policies also instill customer confidence in using EVs on Indian roads. The battery-swapping approach for supplying power has circumvented the absence of charging infrastructure, although both methods will likely coexist in the future.
The Production Linked Incentive (PLI) scheme recommends cash incentives of up to 18% for the automobile sector. Its objective is to promote the domestic manufacture of high-tech automotive products and attract investment to the industry’s value chain. The PLI program encourages indigenous EV battery production and reduces dependency on imports. It will significantly reduce the price of EVs and provide the infrastructure required to support the EV industry.
Incredible Driving Experience
Just accelerate, brake, and steer to control and enjoy a quiet, convenient, safe, and noise-free ride.
Another bonus of driving an electric vehicle is less noise. Electric motors are remarkably silent compared to internal combustion engines and their exhaust systems. Numerous studies have demonstrated the detrimental effects that vehicle noise can have, including an increase in anxiety, depression, high blood pressure, heart conditions, stroke, and other conditions. The incidence of severe depression symptoms in people may also rise due to noise pollution.
Easy Charging Facility
Electric vehicles rely on electricity instead of using fossil fuels like petrol or diesel to power their batteries. It will be convenient for consumers to charge the batteries at their homes and nearby stations rather than stand in line at the petrol pumps. More battery charging stations are already emerging. The EV owners also have the option to charge their batteries at home using charging equipment.
Carbon Emissions
By 2030, switching to electric mobility will enable India to reduce carbon dioxide emissions by around one gigatonne. Every electric vehicle on the road reduces hazardous air pollution for future generations. Global warming and extreme climate change are being fought by everyone on earth, escalating international disputes and political tensions.
By switching to electric vehicles (EVs), we can save our environment from smog and climate change. It is a fantastic idea to lessen environmental exploitation and improve public well-being. Improved air quality and fewer health issues will result from less exhaustion of hazardous pollutants.
Moving Forward
All of the mentioned factors are prompting Indian consumers to make the convenient switch. The EV industry is blooming more than ever now. The EV market is projected to be well-positioned for significant development in the upcoming decade thanks to a substantial infrastructure that is affordable, accessible, and supports all consumer groups, as well as a solid finance ecosystem, governmental incentives, and technology improvements.
The era of electric vehicles has arrived! The last-mile businesses are working harder to transition from conventional to electric automobiles. For instance, Zypp Electric works with e-commerce giants like Amazon, Zomato, Swiggy, etc., to deliver through electric scooters. The company provides vehicle and technology access to gig workers for efficient working.
For more details, visit Zypp’s website https://zypp.app/.
