Currently there are about 40 million vehicles plying on the roads of India, excluding 2 wheelers. This number is expected to grow to 70-80 million by 2027. Partial and full electrification will be the only way to reduce the environmental impact of this huge flux of vehicles.
Vehicles using electrified power-trains are expected to rise exponentially in the next few years. We expect the growth to happen in two phases, starting with smaller vehicles (e-rickshaws, electric Autos etc.).
This will be followed by phase two, which will see widespread adoption of EV technology across different vehicle sizes and applications as the cost of the batteries drops significantly and charging infrastructure grows rapidly.
Countries from across the globe have realized the impact of this and have laid down strategies to clean the transportation sector.
India, for instance, has already announced ambitious plans to electrify the country’s transportation by 2030. BSIV emission norms have already been introduced in 2014 and BSVI emission norms are expected to be rolled out by 2020, putting huge pressure on vehicle manufacturers to electrify their powertrains, partially or fully. The government has also released tenders for large scale purchase of electric cars from private players to be put into government offices.
The UK government has also announced a grant of 20 million pounds in 2017 for projects to hybridize and electrify transportation in the country. More countries are set to follow the trend.