India's power and new and renewable energy minister, R K Singh (center) at the launch of "EV-Ready India" dashboard in New Delhi on Monday.
Policy research and innovation think tank, the Ola Mobility Institute (OMI) on Monday (Oct.16) launched a free digital platform, the "EV-Ready India" dashboard in New Delhi.
Inaugurated by India's Power and New and Renewable Energy Minister, R K Singh, the dashboard serves as a 'one-stop' platform for all information on EVs. It provides real-time information on EV adoption in India and forecasts associated with EV battery demand, charging density, and market growth trends.
"The future is electric. Nobody can stop this. The price of storage will come down, and once that comes down, diesel and petrol SUVs will be history. We will have electric, which suits in our journey as one of the largest economies of the world," Singh said addressing the representatives from Central and State governments present at the launch ceremony along with other industry stakeholders.
The EV-Ready India portal forecasts a 45.5% CAGR for EVs in India between 2022-2030 and predicts annual sales of EVs to reach 1.6 crores by 2030.
Key Features of the EV-Ready India Dashboard:
- For the industry, the dashboard presents consolidated sales data for all 34 Vahan states and Union Territories, and the additional Telangana. The data is visualized for easy understanding of adoption rates and trends presented by time period, form factors, states, and more.
- The dashboard shows forecasts on EV adoption, and associated battery demand till 2030, Further it provides, pan-India projections and presents state-wise projections.
- For EV buyers, the dashboard shows the financial benefits of EV ownership, including potential savings on upfront costs, operating and maintenance costs, etc. It gives a comprehensive list of EV models that are eligible for subsidies and the quantum of such subsidies.
- The portal includes a comprehensive repository of all policies and regulations covering all value chains of the EV ecosystem. The policy module helps states compare their policies, update them based on their competitive advantages,
- In terms of EV charging infrastructure, the dashboard presents a comprehensive overview of charging infrastructure covering both charging stations and points across the country. Additionally, the dashboard shows the density of charging points with respect to EVs on the road. This module also shows charging tariffs allowing states to improve their rates vis-a-vis others by tracking and benchmarking investments across EV value chains such as vehicle manufacturing, battery technology, battery recycling or urban mining, etc., and research and development, the dashboard maps the contributions to India's economic growth and job creation.
Carbon emissions from India's transportation sector account for 18% of the net emissions and therefore decarbonizing the sector remains critical for the Indian government.
Further, India aims to move up from 5th largest to 3rd largest economy, this ambition necessitates energy independence – another reason why the government has been keen on the EV push, Singh added.
Addressing the current challenge to wider EV adoption, the price of batteries, Singh noted that the government launched the Production Linked Incentive (PLI) for the manufacturing of batteries and is planning another PLI.
"We need to reduce the price of storage. The West kept talking about the importance of reducing carbon emissions, but they did not do anything about reducing storage cost. The price of storage will come down only if we add volume, and that is why we are coming out with another PLI to increase manufacturing, capacity, and volumes," he added.
Touching upon the challenges with the lithium-ion batteries supply chain, Singh stressed on the need to shift away from lithium to other battery chemistries such as sodium-ion and called upon the industry to invest in R&D in alternate [battery] chemistries.