Indian Government Wants India to Have Only Electric Cars by 2030: Everyone's Game
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
There was a time when you thought of Electric Vehicles, you thought of a futuristic world. Well, the future is here. Electric Vehicles (EVs) are making their way into the Indian roads and they have no plans to leave. Given the growing menace of pollution and the threat of climate change, EVs are a step in the right direction to make a change for the better.
It's not just the young entrepreneurs that are bringing out EVs on the roads, the biggies in the automobile sector are changing the way they played the game and are embracing innovation by turning to EVs.
Entrepreneur India takes a look at how the Indian government and corporates are joining the #EVbrigade
The Indian government in line with the Paris Agreement has planned to transform the way we commute with a target of turning into a country with all electric vehicles on the roads by 2030. The government may even offer incentives of up to INR 2.5 lakh to those scrapping old petrol or diesel vehicles along with sops for investment to manufacture parts such as motors in the country.
One would think that all the automobile companies would be threatened by the EV phenomena. But well, that seems to be pass?. Automobile companies are instead picking up their socks and innovating in house to bring out state-of-the-world electric vehicles.
Mahindra and Mahindra has been the first EV manufacturer in India and recently, the group declared that they will be pumping in a fresh investment of INR 900 crore for electric vehicle over the next vehicles. Mahindra already has cars e20 Plus and eVerito in the market.
Tata Motors had recently signed an MoU with the Maharashtra government pledging to launch 1,000 EVs in Maharashtra. Not just that, reports suggest that Tata is developing over a dozen electric vehicles.
While South Korean carmaker Hyundai is gearing up to launch an electric vehicle in India by 2019, having also announced investment plans worth $1 Bn in the Indian market. If it does manage to do so, Hyundai will be able to beat Maruti Suzuki which has similar plans for 2020.
Start-ups are of course in the race. While Ola is partnering with Tata Motors to launch electric vehicles, there are many others who are already out on the roads with EVs. Start-ups like Ather Energy, Gayam Motor Works, SmartE etc. are also marking out a space for themselves in the Indian electric automobile market. Bengaluru-based startup Ather Energy in fact recently launched the Ather 340 and Ather 450.
The Unconventional Ones
There's no holding back for companies in the EV race! Royal Enfield, famous for its thundering engine too is making its debut in the electric vehicle industry, according to reports.