Electric vehicles are all the rage right now. We aren’t saying that, but the numbers are.
According to a survey, 66% of customers are willing to buy an electric vehicle in India, out of which, 53% are strongly inclined to go electric.
Switching to electric vehicles comes with a set of concerns for every set of consumers. While some are concerned about the environment, others simply want to experience what the new technology has to offer and the low maintenance costs.
But, with the rising excitement, one has to see how EV adoption in India can improve further.
We take a look at some of the most EV-ready countries and what are some of the factors that make them ready to adapt to electric vehicles.
Moreover, can India take some cues and prepare itself to accommodate a large number of EVs on its roads by 2030?
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Top 4 EV-Ready Countries in the World
We’ve curated a list of top 4 EV-Ready countries around the world, which have been proactively working towards adopting EVs by advancing their infrastructure, introducing government policies and providing incentives to users & manufacturers alike.
China takes the leading spot in EV adoption by far.
The country is riding high on the wave of a strong battery manufacturing sector, widespread charging infrastructure and government policy. According to a source, a record 1.3 million EVs were sold in China, which makes up for 41% of global EV sales.
The country aims at cutting China’s CO2 emissions to zero by 2060. China has seen a rising number of EV models being introduced on the road, apart from the made in China Tesla models. This has led to a more affordable and wider variety of EVs for the masses in the country.
Norway checks many boxes on the list when it comes to EV readiness. It has the highest number of EV registrations and is the first country in the world where EV sales overtook those of petrol, diesel, and hybrid vehicles.
Battery electric vehicles made up 54.3% of all new car sales in 2020, which is way more than a mere 1% a decade ago. German car manufacturer Audi topped the leaderboard with its e-Tron sports utility and Sportback as the most sold new passenger car in the country.
All of this, coupled with government policies aiming to make Norway the first country to end the sale of petrol and diesel cars by 2025. Policies such as tax exemption have further boosted the demand and consumer tendency toward EVs.
The Netherlands holds the record for the highest number of EV charging plugs per 1,000 inhabitants (3.53 in 2020). In the same year, 21% of all newly-registered cars were battery electric vehicles.
The country has seen progressive EV policies in the last few years. The Dutch government has been one of the pillars behind EV adoption by offering the right incentives and benefits to the owners & buyers, to support the government’s zero-emission strategy.
Germany has been one of the countries with a large number of EVs. More than 204,000 EVs were registered in 2020 in the country.
Germany's government policies have been somewhere in the middle, with subsidies and company tax benefits in place.
However, the caveat is the non-existent VAT benefits and registration tax benefits.
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What Can India Learn From Them?
When it comes to different countries, there are unique lessons to be learnt from each one of them.
EV sales have witnessed a growth of 133% from FY15 to FY20. While the sales aren’t a lot when compared with internal combustion engine cars.
Factors like a premium on prices, due to higher battery prices are one of the factors. However, government policies have been working towards providing incentives and benefits to the private manufacturers & customers as well.
Including electric vehicles as a mode of public transportation is one of the ways that can lead to the mass adoption of EVs in India. This will lead to an increase in the charging infrastructure to cater to the needs of public transport, which in turn can help the individual customers.
The lessons from these EV-ready countries are something that India can look forward to, and gradually.