With Surging Oil Prices Weighing Down The Exchequer, India Plans To Have 15 Per Cent EVs On Road By 2023

India has scaled up its ambition to roll out electric vehicles (EVs) in the country with Union Transport Minister Nitin Gadkari aiming for a 15 per cent share in total traffic by 2023. The push towards EVs comes as governments around the globe look to tackle pollution caused by burning of fossil fuels.

It may be worth noting that the Narendra Modi government had already wished to expand the footprint of EVs and targeted a 30 per cent share by 2030. While India sold an estimated 2,000 EVs in the previous year, Bloomberg has estimated that the share of EVs in total sales could rise up to seven per cent by 2030.

In an impetus to the government’s planned push to electric mobility solutions, major carmakers such as Hyundai and Suzuki have announced their plans to introduce EVs in India by early next year. International carmaker Ford has also announced its India EV plans and has signed a pact with local group Mahindra and Mahindra for the joint development of such vehicles.