Global adoption of electric vehicles projects to rise by the year 2030 significantly. The subsequent wave of electrification will involve public service vehicles, according to a recent report.
Reports indicate that the electrification of automobiles in the public sector is made possible by various factors such as government policies. Additionally, increased awareness of environmental concern and the cost-effectiveness of publicly acquired vehicles, which will involve shared costs in running and maintenance of the cars, have also contributed to the scheme.
Sufficient infrastructure and the presence of ideal business models will have a positive impact on the program. The possibility of EVs to be introduced will thus experience limited resistance from technological difficulties that would hamper their accommodation. In India, electric locomotives adoption has is incorporable to motorcycles and the 3-wheelers, which, for decades, have been used as a common form of public transport. Change of policies in numerous sectors will thus enable the subsequent wave of production to be versatile with a primary concern on publicly owned vehicles.
Despite the economic instability caused by the coronavirus pandemic, FICCI, an industrial body, advised the government to proceed with promoting EV demand. Several procedures would propel the move towards electric vehicle adoption. The steps aim at shielding the masses against precarious uncertainties of new technology. The plans include providing government incentives, affordable vehicle components, and the use of standardized technologies.
According to India’s Transport and Infrastructure official, making EV’s a popular trend would entail an emphasis on suitable car segments and technologies, prospective business models, and the supplier environment. Additionally, EV production firms should also get involved in the development of local suppliers to slice costs and create a robust after-sales network for excellent customer service.
The total ownership cost of electric vehicles is another critical driver of the program’s success. Despite the stagnated discussions on the electrification process, pitching would provide an adequate platform for incentive benefits from the government. Also, the financial incentives will enhance demand and continuous production by the manufacturing firms. The provision of financial support will reduce import dependence, thus stimulating connection with the internal market.
In conclusion, establishing an appropriate business model and proper infrastructure in the economy will positively impact the adoption of electric vehicles. There would be reduced costs in the running of transport operations due to the mitigation of fossil fuel use. There would thus be sufficient power to run the EV manufacturing firms.