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Road to Commercialization for Electric Vehicles in India and the Challenges Ahead - Opinion

Road to Commercialization for Electric Vehicles in India and the Challenges Ahead - Opinion

The Electric Vehicle (EV) market in India is moving ahead, and various incentives have been introduced, both at national and sub-national levels, such as National Electric Mobility Mission Plan (NEMMP) and Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles (FAME), as well as the New Vehicle Scrappage Policy, offering both fiscal and non-fiscal incentives to drive the transition towards EV ambition of India.

However, a sustainable market for EVs would still require more concerted efforts towards development of an eco-system with the right infrastructure (better battery systems, adequate charging infrastructure etc.), financing/ mortgage mechanism, innovative business models, etc.

Charging Infrastructure remains a key constraint to EV adoption

As part of the EV ecosystem creation, the availability of charging infrastructure remains a key constraint in wider acceptance of EVs among users. There is a slow growth in charging infrastructure, owing to the high cost involved and lack of payouts due to limited utilization of the existing infrastructure. Further, in the context of public bus transport fleets, operators may be averse to investing in charging infrastructure, owing to risks and return on such investment

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