Particularly in India, the EV market is gaining momentum due to the ambitious plans and initiatives of the government. However, the country needs a coordinated effort by different sectors to realize its ambitious goal, says leading data and analytics company GlobalData.
EV deployment is mostly driven by policy. GlobalData observed that public authorities in India have made a number of EV-related policy announcements over the past few years showing strong commitment, concrete action and significant ambition for their deployment in the country.
In 2012, the National Electric Mobility Mission Plan (NEMMP) 2020 was established to promote hybrid and electric vehicles. Under the plan, an incentive scheme—Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME)—was launched in 2015 to reduce the upfront purchase price and stimulate their early adoption.
In early 2018, the Ministry of Power launched the National Electric Mobility Programme to focus on creating charging infrastructure and a policy framework to set a target of more than 30% electric vehicles by 2030.
Prabhanjan Singh, Power Analyst at GlobalData, says: “Until now, charging infrastructure was deemed as electricity distribution, which is a licensed activity. This license requirement stalled the market access of small-scale players. In early 2018, an interim arrangement was set up to enable charging stations to operate without a license. The power ministry categorized charging batteries of electric vehicles as a service, allowing charging stations to operate without a license to encourage the use of EVs.”