Years of incremental progress has now given way to a full-fledged EV revolution in India. As manufacturers, like Volvo, launch a slew of new electric mobility solutions, the big question now pertains to the legislative and regulatory framework needed to facilitate this oncoming electric transformation. The emergence of a new class of EV buyers and electric transport will require an enabling ecosystem of widespread charging facilities, and wholesale changes in the way we live and work.
The second Moneycontrol ‘Future of Mobility’ panel discussion, presented by Volvo Cars India, saw a gathering of leading experts, who shared insights and ideas with host, Karunya Rao, on the way forward in India’s journey to electric mobility. Featuring Jyoti Malhotra, MD, Volvo Cars India, Mahua Acharya, MD & CEO, Convergence Energy Services Ltd., and Sumit Mittal, CFO, GreenCell Mobility, the panel also appraised the current state of progress and flagged areas of concern.
On The Charge
One of the most pressing issues is the lack of comprehensive charging infrastructure, made more acute by the growing influx of EVs on Indian roads. Mahua Acharya summed up the challenge well, saying, “The need for charging stations is less of an issue when it comes to two-wheelers and three-wheelers. You don’t have as many of the obstacles for putting up charging stations as for four wheelers.”
In response to updates about new charging stations – especially NHAI’s plans to install 700 new charging stations across major Indian highways – Jyoti Malhotra struck a more positive note, even highlighting the Government’s move to create a handbook for creating a charging ecosystem. And to help the existing charging infrastructure scale up effectively, Sumit Mittal suggested means to cope with the differences in supply and demand. “We need to come up with solutions that will offset peak charging times from the daytime to the night time”, he said, alluding to the need for domestic charging solutions.
Mobility Goes Green
The assembled panellists expressed a need to nurture a sustainable ecosystem for EVs, that goes beyond simply putting electric vehicles on the road. While Mahua Acharya spoke about state-specific regulations that help renewable energy producers, Sumit Mittal followed it up with an insight into how they can accelerate renewable energy production. “If states can allow the cost to bank energy to come down, that will fast track the adoption of green energy”, he said.
These changes will have to keep pace with rising consumer interest in EVs. As Jyoti Malhotra pointed out, “Customers are more than ready to buy, whether it’s two wheelers, whether it’s small commercial vehicles, whether it’s cars”. Therefore, it’s even more important to set up a governing structure at these early stages of electrification of mobility in the country, before the burgeoning size and scale of the industry exacerbates infrastructural shortcomings, and puts a brake on the EV revolution.
You can watch the full panel discussion here : https://www.youtube.com/watch?v=KBtGERQaydU
Get more insights on how EVs are creating a better future here: https://www.moneycontrol.com/news/evs-electric-vehicles
Monecontrol journalists are not involved in the creation of this article.