The Future of Electric Vehicles in India 🚗⚡
India is set to see a huge rise in electric vehicles (EVs) on its roads. By 2032, it’s estimated that there will be around 123 million EVs in the country. This exciting news comes from a recent report by the India Energy Storage Alliance (IESA) and Customized Energy Solution (CES). The report emphasizes that adopting EVs is key to achieving Sustainable Development and Net Zero Emissions by 2070.
Boosting the Economy and Environment 🌍💰
Switching to electric vehicles can help strengthen India’s economy. By 2030, the goal is to have 30% of vehicles on the road as EVs. Thanks to government support like the FAME-2 scheme, the number of lithium-ion electric vehicles has grown significantly, from 0.35 million in 2019 to about 4.4 million expected by 2024.
Electric Two and Three Wheelers Lead the Way 🛵🛴
Most of the electric vehicles will be two-wheelers and three-wheelers. In fact, by 2024, these will make up over 93% of the total EV stock. However, electric cars are not as popular, making up only about 6% of the market, while electric buses and trucks are under 1%.
Need for Charging Infrastructure 🔌🏙️
To support this growth, India will need to increase its EV charging points significantly. The number of charging points is expected to rise from around 76,000 to 21 lakhs by 2024. Additionally, the charging capacity must increase more than 17 times, from 1.3 GW to 23 GW.
In 2024, there will be around 2,20,000 personal electric cars on the roads, relying mainly on type-2 AC chargers installed in homes. With about 3,20,000 private chargers available, the future of electric mobility in India looks bright. 🌟
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