The role of electric mobility to reduce dependency on fossil-fuels is witnessing global popularity. The driving factors influencing the growth of the electric vehicle sector include an increased focus on climate change, advances in renewable energy, rapid urbanization, advancement in battery technology and a need to ensure energy security. India is also witnessing a conscious shift towards green mobility to achieve its commitments under the Paris Agreement.
In India, the EV sector is steadily gaining traction. The central as well as the state governments have been taking various steps and policy decisions to encourage the adoption of EVs. Regulatory support for EVs in India includes the National Electric Mobility Mission Plan, 2020 for the faster adoption of EVs, with the aim to enhance national fuel security and provide affordable transportation, the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME) Schemes I and II, that set out various incentives to enhance demand for EVs, and various state-specific policies for EVs.
Please click here to read the full article by Vishnu Sudarsan and Megha Arora, published in CNBC TV 18.
Megha is a Partner in the general corporate and M&A practice of JSA, with special focus on the projects and energy sector. She has over 18 years of experience in this vertical.