Charging Up the EV Sector through Policy Reform

Government of India approach

As the world moves towards clean and eco-friendly mobility fuel alternatives, the Government of India (“GOI”) is playing its part by framing environmental-friendly policies & regulations and encouraging the use of electric vehicles (“EVs”) in the country. The National Electric Mobility Mission Plan, 2020 had launched the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (“FAME Policy / Scheme”) in the year 2015. The FAME Policy was launched in two phases. FAME – I provided direct subsidies and grants for specific projects along with financial support for R&D, technology enhancement and public charging infrastructure. FAME-II, introduced in 2019 with a budgetary outlay of INR 10,000 crore, envisioned driving large-scale adoption of EVs, EV-related infrastructure and EV ecosystem development. Despite these efforts the EV market penetration currently stands at merely 3% of India’s total vehicle sales.[1]


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Part I - Electric Vehicles: Disrupting the Automotive Ecosystem

The Indian economy is one of the fastest growing economies in the world, with an increasing demand for energy. Given that historically India has relied on pollutant hydrocarbons to run its power plants and vehicles, there has been an increasing focus on setting ambitious ‘green’ targets, especially in light of the alarming levels of pollution in India. The Government of India (GoI) has actively encouraged the adoption of electric vehicles with the idea of shifting the production of new automotive vehicles from internal combustion engine models to electric vehicles by 2030.
Continue Reading Part I – Electric Vehicles: Disrupting the Automotive Ecosystem