Electric Mobility together with other alternate powertrains presents a promising case for India to tackle rising emissions and import dependency for meeting its oil and energy needs. There has been significant policy mileage, particularly in the last few years both by the Central and State governments through policy interventions. Asset financiers are exploring EVs as part of their sustainable finance initiatives. However, the shift to EVs also throws up certain challenges. The supply chain of EVs in India for key components is at a nascent stage and dependent on imports. Stable procurement of raw materials needs to be ensured even if we localize.
This whitepaper provides the current status, trends & future potential of electric mobility in India while also exploring unique challenges towards making it sustainable. We also have recommendations for policy formulation and implementation based on industry voice.
