Abstract:

Electric mobility landscape in India is currently at a nascent stage, with significant constraints to be overcome. India require nearly eight times the existing global stock of EVs. Auto industry in India would require enabling policy interventions to make sudden shifts in production. The report develops six-point criteria to identify front runners (two-wheelers, three-wheelers and buses) which would propel the transition towards electric mobility. Further, the report highlights the potential of e-mobility in reducing carbon emission which is as high as 82% for complete electrification of two-wheelers by 2050. Critical policy mechanisms including setting up green zones, preferential tariffs and innovative financial instruments such as green bonds, fee-bates and demand aggregation mechanisms to support market creation for e-vehicles are also proposed in the report.