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LATEST NEWS UPDATES | How EVs can drive energy security -Himani Jain and Vaibhav Pratap Singh </title>
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Limited charging infrastructure, lack of interoperability services and inadequate access to affordable finance must be addressed
Russia’s war on Ukraine has had a devastating impact on the global economy. It has triggered an unprecedented energy crisis as prices..."/>
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Limited charging infrastructure, lack of interoperability services and inadequate access to affordable finance must be addressed
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<h1 class="cat-box-title">How EVs can drive energy security -Himani Jain and Vaibhav Pratap Singh</h1>
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Published on</span><span class="text-date"> Jun 16, 2022</span>
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<p style="text-align:justify">-The Hindu Business Line</p><p style="text-align:justify"><em>Limited charging infrastructure, lack of interoperability services and inadequate access to affordable finance must be addressed</em></p><p style="text-align:justify">Russia’s war on Ukraine has had a devastating impact on the global economy. It has triggered an unprecedented energy crisis as prices of commodities such as coal, natural gas and crude oil have skyrocketed. With oil above $100 a barrel, policymakers in the country are faced with two questions: How to keep the energy prices down in the coming months, and how to ensure India’s energy security in the long- term?</p><p style="text-align:justify">Almost 85 per cent of India’s oil needs are transport-related. Therefore, rapid adoption of electric vehicles would not only help reduce India’s $120-billion crude import bill but also aid in meeting our medium- and long-term emission reduction targets.</p><p style="text-align:justify">India’s EV transition is already at a critical juncture. EVs, marked by their low operating costs, are turning attractive for many commercial cases such as food delivery services compared to conventional internal combustion engine (ICE) vehicles. According to the CEEW Centre for Energy Finance, in FY22, EVs formed 2.5 per cent of the total new vehicle sales compared to less than 1 per cent in FY21. Recognising the opportunity and the strategic importance of the sector, in 2021, India announced two production linked incentive (PLI) schemes to boost domestic manufacturing of electric vehicles and advanced chemistry cells. However, India’s EV transition faces multiple challenges, marked by limited charging infrastructure, lack of interoperability services, inadequate access to affordable finance and limited domestic demand. Therefore, a long-term roadmap is needed for a smooth transition.</p><p style="text-align:justify">Please <a href="https://www.thehindubusinessline.com/opinion/how-evs-can-drive-energy-security/article65533594.ece?fbclid=IwAR328WVkFH3gujnAdGaaWkwYhvDY4l_2BRdlFkL5CWTnyzEw25Bedat8YrY" title="https://www.thehindubusinessline.com/opinion/how-evs-can-drive-energy-security/article65533594.ece?fbclid=IwAR328WVkFH3gujnAdGaaWkwYhvDY4l_2BRdlFkL5CWTnyzEw25Bedat8YrY">click here</a> to read more. </p>
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<br><a href="https://www.thehindubusinessline.com/opinion/how-evs-can-drive-energy-security/article65533594.ece?fbclid=IwAR328WVkFH3gujnAdGaaWkwYhvDY4l_2BRdlFkL5CWTnyzEw25Bedat8YrY" class="re" target="_blank">The Hindu Business Line, 16 June, 2022, https://www.thehindubusinessline.com/opinion/how-evs-can-drive-energy-security/article65533594.ece?fbclid=IwAR328WVkFH3gujnAdGaaWkwYhvDY4l_2BRdlFkL5CWTnyzEw25Bedat8YrY</a><div class="clear"></div>
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LATEST NEWS UPDATES | How EVs can drive energy security -Himani Jain and Vaibhav Pratap Singh </title>
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<h1 class="cat-box-title">How EVs can drive energy security -Himani Jain and Vaibhav Pratap Singh</h1>
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<p style="text-align:justify">-The Hindu Business Line</p><p style="text-align:justify"><em>Limited charging infrastructure, lack of interoperability services and inadequate access to affordable finance must be addressed</em></p><p style="text-align:justify">Russia’s war on Ukraine has had a devastating impact on the global economy. It has triggered an unprecedented energy crisis as prices of commodities such as coal, natural gas and crude oil have skyrocketed. With oil above $100 a barrel, policymakers in the country are faced with two questions: How to keep the energy prices down in the coming months, and how to ensure India’s energy security in the long- term?</p><p style="text-align:justify">Almost 85 per cent of India’s oil needs are transport-related. Therefore, rapid adoption of electric vehicles would not only help reduce India’s $120-billion crude import bill but also aid in meeting our medium- and long-term emission reduction targets.</p><p style="text-align:justify">India’s EV transition is already at a critical juncture. EVs, marked by their low operating costs, are turning attractive for many commercial cases such as food delivery services compared to conventional internal combustion engine (ICE) vehicles. According to the CEEW Centre for Energy Finance, in FY22, EVs formed 2.5 per cent of the total new vehicle sales compared to less than 1 per cent in FY21. Recognising the opportunity and the strategic importance of the sector, in 2021, India announced two production linked incentive (PLI) schemes to boost domestic manufacturing of electric vehicles and advanced chemistry cells. However, India’s EV transition faces multiple challenges, marked by limited charging infrastructure, lack of interoperability services, inadequate access to affordable finance and limited domestic demand. Therefore, a long-term roadmap is needed for a smooth transition.</p><p style="text-align:justify">Please <a href="https://www.thehindubusinessline.com/opinion/how-evs-can-drive-energy-security/article65533594.ece?fbclid=IwAR328WVkFH3gujnAdGaaWkwYhvDY4l_2BRdlFkL5CWTnyzEw25Bedat8YrY" title="https://www.thehindubusinessline.com/opinion/how-evs-can-drive-energy-security/article65533594.ece?fbclid=IwAR328WVkFH3gujnAdGaaWkwYhvDY4l_2BRdlFkL5CWTnyzEw25Bedat8YrY">click here</a> to read more. </p>
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LATEST NEWS UPDATES | How EVs can drive energy security -Himani Jain and Vaibhav Pratap Singh </title>
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<h1 class="cat-box-title">How EVs can drive energy security -Himani Jain and Vaibhav Pratap Singh</h1>
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Published on</span><span class="text-date"> Jun 16, 2022</span>
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<p style="text-align:justify">-The Hindu Business Line</p><p style="text-align:justify"><em>Limited charging infrastructure, lack of interoperability services and inadequate access to affordable finance must be addressed</em></p><p style="text-align:justify">Russia’s war on Ukraine has had a devastating impact on the global economy. It has triggered an unprecedented energy crisis as prices of commodities such as coal, natural gas and crude oil have skyrocketed. With oil above $100 a barrel, policymakers in the country are faced with two questions: How to keep the energy prices down in the coming months, and how to ensure India’s energy security in the long- term?</p><p style="text-align:justify">Almost 85 per cent of India’s oil needs are transport-related. Therefore, rapid adoption of electric vehicles would not only help reduce India’s $120-billion crude import bill but also aid in meeting our medium- and long-term emission reduction targets.</p><p style="text-align:justify">India’s EV transition is already at a critical juncture. EVs, marked by their low operating costs, are turning attractive for many commercial cases such as food delivery services compared to conventional internal combustion engine (ICE) vehicles. According to the CEEW Centre for Energy Finance, in FY22, EVs formed 2.5 per cent of the total new vehicle sales compared to less than 1 per cent in FY21. Recognising the opportunity and the strategic importance of the sector, in 2021, India announced two production linked incentive (PLI) schemes to boost domestic manufacturing of electric vehicles and advanced chemistry cells. However, India’s EV transition faces multiple challenges, marked by limited charging infrastructure, lack of interoperability services, inadequate access to affordable finance and limited domestic demand. Therefore, a long-term roadmap is needed for a smooth transition.</p><p style="text-align:justify">Please <a href="https://www.thehindubusinessline.com/opinion/how-evs-can-drive-energy-security/article65533594.ece?fbclid=IwAR328WVkFH3gujnAdGaaWkwYhvDY4l_2BRdlFkL5CWTnyzEw25Bedat8YrY" title="https://www.thehindubusinessline.com/opinion/how-evs-can-drive-energy-security/article65533594.ece?fbclid=IwAR328WVkFH3gujnAdGaaWkwYhvDY4l_2BRdlFkL5CWTnyzEw25Bedat8YrY">click here</a> to read more. </p>
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<br><a href="https://www.thehindubusinessline.com/opinion/how-evs-can-drive-energy-security/article65533594.ece?fbclid=IwAR328WVkFH3gujnAdGaaWkwYhvDY4l_2BRdlFkL5CWTnyzEw25Bedat8YrY" class="re" target="_blank">The Hindu Business Line, 16 June, 2022, https://www.thehindubusinessline.com/opinion/how-evs-can-drive-energy-security/article65533594.ece?fbclid=IwAR328WVkFH3gujnAdGaaWkwYhvDY4l_2BRdlFkL5CWTnyzEw25Bedat8YrY</a><div class="clear"></div>
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LATEST NEWS UPDATES | How EVs can drive energy security -Himani Jain and Vaibhav Pratap Singh
How EVs can drive energy security -Himani Jain and Vaibhav Pratap Singh
Published on Jun 16, 2022
Modified on Jun 22, 2022
-The Hindu Business Line
Limited charging infrastructure, lack of interoperability services and inadequate access to affordable finance must be addressed
Russia’s war on Ukraine has had a devastating impact on the global economy. It has triggered an unprecedented energy crisis as prices of commodities such as coal, natural gas and crude oil have skyrocketed. With oil above $100 a barrel, policymakers in the country are faced with two questions: How to keep the energy prices down in the coming months, and how to ensure India’s energy security in the long- term?
Almost 85 per cent of India’s oil needs are transport-related. Therefore, rapid adoption of electric vehicles would not only help reduce India’s $120-billion crude import bill but also aid in meeting our medium- and long-term emission reduction targets.
India’s EV transition is already at a critical juncture. EVs, marked by their low operating costs, are turning attractive for many commercial cases such as food delivery services compared to conventional internal combustion engine (ICE) vehicles. According to the CEEW Centre for Energy Finance, in FY22, EVs formed 2.5 per cent of the total new vehicle sales compared to less than 1 per cent in FY21. Recognising the opportunity and the strategic importance of the sector, in 2021, India announced two production linked incentive (PLI) schemes to boost domestic manufacturing of electric vehicles and advanced chemistry cells. However, India’s EV transition faces multiple challenges, marked by limited charging infrastructure, lack of interoperability services, inadequate access to affordable finance and limited domestic demand. Therefore, a long-term roadmap is needed for a smooth transition.
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