Rollout of Electric Cars Sooner Than Ever

The current energy crisis in India further emphasizes the importance of becoming “Atma Nirbhar” sooner than ever. India which relies on global imports for almost three-fourths of its oil needs is experiencing turmoil as oil crosses the $100/ barrel mark. The rising geopolitical tensions as a result of Russia’s invasion of Ukraine have disrupted the global supply chain pushing oil prices higher. Russia which is the largest oil exporter is facing severe bans from western countries. The US has also suggested imposing a total ban on Russian fuels. This is further propelling oil prices higher.

India is at a crux as the country needs more oil than it produces. The rising number of cars on Indian roads needs more fuel to run. This further raises the question about India’s reliance on foreign countries for fuel imports. Though the country has put forth its plan to mobilize its vehicles electrically, the pace has been very slow. We need to see more electric cars on Indian roads, more charging infrastructure everywhere, and more policy support to make electric cars friendlier in India. The rollout of electric cars will not only reduce our reliance on expensive oil but also protect our environment.

Also, read Global EV Sales Report – 2021

BluSmart, the green cab service is already electrifying taxis in India; we need to see many more two-wheelers to electrically mobilize the last-mile delivery fleet in our country. EVs in India has grown at a rate of 133% CAGR during the period 2015-2020. But the penetration of electric vehicles is very low in absolute terms, just ~1% of total vehicles.  There is a lot of anxiety around the EV infrastructure. The whole process is bound to take time as it insists on uprooting an age-old habit and establishing a new one. The issue at hand was already alarming given the rising pollution and climate change warnings. However, the fuel crisis has further raised a question on our dependence on foreign countries for sustenance. The sooner we become independent the better!