Indian roads to have 123 million EVs by 2032

India will have 123 million electric vehicles on the road by 2032 under the best-case scenario, according to a report by India Energy Storage Alliance and Customised Energy Solutions. In a significant move towards sustainable development and to achieve net zero emissions by 2070, there is a need to adopt electric vehicles (EVs). This can bolster India’s economy while supporting the ambitious target set for 2030—EV penetration of 30%, the report said. This rapid growth has been fuelled by supportive government policies, such as the FAME-II scheme, which offers demand incentives for electric two-wheelers, three-wheelers and four-wheelers, along with capital subsidies for public charging infrastructure. This aligns with the National EV Targets (NEV) scenario, highlighting the nation’s commitment to boosting sustainable transportation and reducing carbon emissions, said a report.

Please visit our youtube channel https://www.youtube.com/@ikargos2719 for fortnightly logistics news analysis and more!