Abstract:

According to a June 2019 report by the Centre for Science and Environment, air pollution accounts for 12.5 per cent of all deaths in India each year. In a bid to boost the EV sector in India, the Central government in April 2019 launched the second phase of FAME (Faster Adoption and Manufacturing of Hybrid & Electric Vehicles), with a vision to change 30 per cent of automobiles sold in India to EVs by 2030. The policy also proposed setting up of 2,700 charging stations across the country. The EV ecosystem is at a nascent stage in India. However, a push from the government and the industry players’ zeal to develop the space has made many start-ups to join the EV bandwagon. The upfront costs are very high and thus financial re-engineering is very important for e-mobility.