Businesses seek government help to meet 2030 EV target
NEW DELHI: Businesses in India are seeking government support to meet a target for at least 65% of all new vehicle sales to be electric by 2030, according to a Ceoled organisation of major companies worldwide which is leading the push.
More than 25 companies, including automakers Mahindra & Mahindra and Volvo, oil giant Shell, and clean mobility startups, want India to set firm targets and frame policies to support the transition to electric vehicles (EVS), the World Business
Council for Sustainable Development (WBCSD) said.
This is the first collective push by companies in India to switch to clean mobility and comes weeks ahead of an United Nations’ climate change conference—seen as crucial to wringing out more commitments from governments to stop global warming.
India is the world’s third-biggest greenhouse gas emitter after China and the United States and so vital in the fight against climate change.
“After rapid growth in India’s renewable energy sector, transport decarbonisation is India’s
next big opportunity to address climate change,” said Joe Phelan, director at the WBCSD in India.
Meeting the 2030 target could
provide an investment opportunity of about $200 billion, the WBCSD said in a statement, adding it would also cut India’s road transport emissions by 15%.
In recent months, India has firmed up schemes to incentivise companies to build EVS and batteries locally to boost supply and complement a slew of federal and state benefits for EV buyers.
The WBCSD said that by 2030 companies want 30% of new cars, 70% of new motorbikes and scooters and 35% of new buses sold to be electric.
To achieve this, they want the government to legalise e-bike taxi services, give fleet permits for electric three-wheelers, ensure easy access to finance and leasing opportunities for electric cars and speed up installation of public chargers.