New Delhi : Electric vehicle (EV) sales in India are expected to witness a double-digit growth till 2020, fuelled by government measures for the sector and reducing battery prices, among others, according to a joint study by Assocham and global advisory services firm EY.

Currently, EV industry in India is at nascent stage comprising less than 1 per cent of total vehicle sales.  Stressing the urgent need for creating charging infrastructure at a rapid pace, the report said it is the determining factor for growth of EVs.

“The road map to electric mobility vision is based on growing collaborative economy and proliferation and success of electric and shared mobility business models,” the report noted.

With regard to clarity in EV policy, it said the government needs to take active measures to streamline regulatory challenges and provide further policy impetus to drive uptake of EVs. The government has set an ambitious target of having 100 per cent electric vehicles for public transport and 40 per cent electric for personal mobility by 2030.

Meanwhile, the automobile industry has sought clarity in EV policy besides restoring incentives given on research and development in the form of weighted tax deduction to previous level.

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Free Press Journal