Indian Auto Industry Indian Auto Industry Update 13 May 2017 Industry India's 2030 all-electric car

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  • Indian Auto Industry Update

    13 May 2017

    Industry India's 2030 all-electric car target seen 'ambitious' by IEA

    Use of electric vehicles can save $60 billion by 2030: Niti Aayog

    'Almost 70% of auto sales in India to be digitally influenced by 2020'

    Niti Aayog proposes incentives, subsidies for Electric Vehicles

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    Interviews & Features Cars, SUVs, MUVs

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    Industry

    India's 2030 all-electric car target seen 'ambitious' by IEA Bloomberg / Saket Sundria See this story in: The Economic Times (Web Edition)

    India’s potential plan to sell only electric cars by the end of next decade would require nearly eight times the global stock of such vehicles, according to the International Energy Agency.

    The country would need to sell more than 10 million electric cars in 2030, compared with the almost 1.3 million on the road worldwide in 2015, the agency said in an emailed response to questions. The goal also equals 10 per cent of the 2030 target for electric vehicles on the road globally agreed to in the Paris climate talks.

    While the details are yet to be worked out, “it is an ambitious plan nonetheless,” the IEA said. “Regardless, the exact formulation of the target and the extent of its long-term achievement, it is a good step that will help India to be among the global leaders in deploying a technology that is crucial to temper increasing oil import needs, local air pollution in cities, and limit CO2 emissions.”

    India’s fast-growing economy and rising urbanization has set it on course as a key driver of global energy growth in the coming decades. A group of ministers has been directed to ensure that by 2030 almost all vehicles in the country are powered by electricity as a way to cut oil imports and pollution, according to a government statement in March citing Power Minister Piyush Goyal. The idea is that not a single gasoline or diesel car should be sold in the country by then, the Press Trust of India reported Goyal as saying.

    While reaching the target would chop almost 10 percent of India’s 2030 forecast oil use, the country would remain a key center of global consumption growth, second only to China, as road freight transport, petrochemicals and the residential sector continue to push demand higher, the IEA said.

    Infrastructure Hurdles The government would need to build more charging points and lower the cost of electric vehicles if it wants to achieve its goal, according to Tushar Bansal, director at energy consultant Ivy Global Energy Pte.

    “The electric vehicles today can only go a limited distance before requiring recharging,” Bansal said. “Because of the number of infrastructural additions and changes required, replacing gasoline cars with electric vehicles is expected to be a longer drawn-out affair as the market will take time to adjust.”

    India had close to 5,000 electric vehicles on the road by the end of last year, according to the IEA. That compares with the more than 3 million passenger vehicles sold in the country in the year ended March 31, according to data from the Society of Indian Automobile Manufacturers.

    Companies including Mahindra & Mahindra Ltd., Volvo Cars, BMW AG and Toyota Motor Corp. sell electric or hybrid cars in India. Mahindra offers its e2O Plus in Delhi at 626,387 rupees ($9,724), not including taxes, according to its website. The cheapest gasoline powered car can be bought for about a third of that. http://auto.economictimes.indiatimes.com/news/industry/indias-2030-all-electric-car-target-seen-ambitious-by-iea/58640479 India’s 2030 target to sell only electric cars very ambitious, says IEA The Financial Express (Web Edition) http://www.financialexpress.com/economy/indias-2030-target-to-sell-only-electric-cars-very-ambitious-says-iea/665745/ Electric vehicles to save $60 bn in fuel costs by 2030: Niti Aayog Daily News & Analysis (Web Edition) http://www.dnaindia.com/money/report-electric-vehicles-to-save-60-bn-in-fuel-costs-by-2030-niti-2435901

    http://auto.economictimes.indiatimes.com/news/industry/indias-2030-all-electric-car-target-seen-ambitious-by-iea/58640479 http://India’s 2030 target to sell only electric cars very ambitious, says IEA http://www.financialexpress.com/economy/indias-2030-target-to-sell-only-electric-cars-very-ambitious-says-iea/665745/ Electric vehicles to save $60 bn in fuel costs by 2030: Niti Aayog http://www.dnaindia.com/money/report-electric-vehicles-to-save-60-bn-in-fuel-costs-by-2030-niti-2435901 http://India’s 2030 target to sell only electric cars very ambitious, says IEA http://www.financialexpress.com/economy/indias-2030-target-to-sell-only-electric-cars-very-ambitious-says-iea/665745/ Electric vehicles to save $60 bn in fuel costs by 2030: Niti Aayog http://www.dnaindia.com/money/report-electric-vehicles-to-save-60-bn-in-fuel-costs-by-2030-niti-2435901

  • India’s 2030 all-electric car target ‘ambitious’: IEA mint (Web Edition) http://www.livemint.com/Industry/vt5LqZam0STgV3SGuXH22M/Indias-2030-allelectric-car-target-ambitious-IEA.html Electric vehicles to save $60 bn in fuel costs by 2030: Niti Aayog The Statesman (Web Edition) http://www.thestatesman.com/business/electric-vehicles-to-save-60-bn-in-fuel-costs-by-2030-niti-aayog-1494581796.html

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    Use of electric vehicles can save $60 billion by 2030: Niti Aayog ReutersSee this story in: Business Standard (Web Edition)

    New Delhi: India could save as much as $60 billion in energy costs by 2030 and one gigatonne of carbon emissions between 2017 and 2030 by adopting more electric and shared vehicles, according to a report released on Friday by the country's leading think-tank.

    The report on transformative mobility solutions by Niti Aayog, India's policy commission chaired by Prime Minister Narendra Modi, provides a 15-year roadmap for electrification of vehicles in the country and is likely to form the basis for a new green car policy, sources had told Reuters.

    The 134-page report suggests three major transitions - a shift from private vehicle ownership to shared usership, from petrol and diesel to electric vehicles and from cities designed for cars to cities designed for humans.

    "Such a transformation could position India as the global leader in clean, shared, and connected passenger mobility, while establishing a model of low-carbon solutions for other developing nations to follow," the report, co-authored by U.S.-based consultant Rocky Mountain Institute, said.

    The main recommendations include limiting the registration of petrol and diesel cars through public lotteries, providing fiscal and monetary incentives and subsidies to push sales of electric vehicles and using tax revenues from the sale of petrol and diesel cars to set up electric charging stations.

    It suggests lowering interest rates and electricity tariffs for electric taxis, establishing a consortium for manufacturing standardised batteries and common components to bring down their cost and setting up battery-swapping facilities.

    The report suggests forming a regulatory body to create, update and simplify the regulatory framework for electric vehicles and piloting the recommendations