It was about time we went for a new one. Our car had turned eleven and had carried the four of us across some tough terrain in South India, where we live. No regrets whatsoever. However, the inevitable time to switch over had arrived though. Though we settled for one that suited our pocket and safety needs but where’s my contribution towards fuel emissions?
EV: Surging Bazaar
Environmental Defense Fund, one the most venerable and well-known not-for-profits involved with climate change has thrown some light on the trajectory taken by non-fossil fuel alternatives based on a report it received from the leading London-based consultancy ERM. In May 2019, the initial report came. The “Electric Vehicle Market Update” report, which tracks the current situation and anticipated development of the US EV market, is the sixth update to the report.
- Global manufacturers will be investing more than $515 billion in the design and manufacturing of electric vehicles by 2030
- Committing more than $75 billion to building factories for electric vehicles across six states in the US alone by 13 auto manufacturers
- In the EV category, a diversified range with more than 100 models, spread across automobiles, vans, and SUVs for US based buyers by 2025.
- EV sales in the US and globally have increased 40% and 4% year over year in 2021.
Automakers are expected to invest more than half a trillion dollars in the development of new electric automobiles and passenger trucks as well as in the production of batteries.
EV: India’s Challenges
According to a report published in the economic times dated 8th Dec’21, roughly 20 states in India have either drafted or reached the finalising stage of policy formulation that will transform transportation in India from one based on internal combustion or fossil fuel-based to electricity-driven. All state policies have given preference to 2 & 3-wheel vehicles while mentioning air quality problems, climate change challenges, less reliance on oil imports, and encouraging the growth of the EV industry.
Some challenges though remain formidable to scale:
- The demand for fuel-efficient options such as electric vehicles has witnessed an enviable surge, however, in India, the price of an electric scooter or a four-wheeler is still heavy on an average Indian household, forcing a natural shift towards ICEs, despite a steep increase in petrol and diesel price across the globe.
- Governments and dedicated groups are forcing tough laws to control vehicular emissions forcing the manufacturers toward electrical diversification, but the resultant demand-supply remains skewed.
- The lack of adequate and proper charging infrastructure has become a bane for EV growth, especially in developing countries.
Finally
Electric car
On verdant green
Invent a turn
Invent a dream
Electric car
The new machine
The lyrics of the famed American alt-rock band They Might Be Giants (TMGB) from their gold Here Comes Science couldn’t have been so apt and prophetic.
The goal to achieve parity with ICEs by 2030 would be possible only if the governments take strong measures to make EVs the primary mode of transportation. Increasing the tax rate on fossil fuels and imposing a partial or total prohibition on the sale of ICE could further divert a large chunk of the populace toward the electrical mode.