What is the future of alternative motor fuels?
With soaring fuel prices, automotive OEMs are focusing on alternate options to support future mobility solutions. The government has been actively promoting the use of alternate fuels, the most recent being the launch of a new green hydrogen policy, while simultaneously creating the necessary infrastructure, including setting up EV charging stations, mega manufacturing zones and renewable energy parks. Apart from progress in the EV space, the country is taking crucial steps in strengthening its energy security by promoting the use of ethanol-blended petrol. The transition will not only reduce costs but also bring down pollution levels.
Hybrid technology, electric vehicles, ethanol-blending and hydrogen fuel have the potential to be game changers in the coming decade. However, it depends on how quickly the process of manufacturing, transportation and storage of these alternate fuels will be available in the country.
Looking ahead, given the country’s focus on driving clean energy adoption, decarbonisation and energy transition, we strongly believe this is the right opportunity for India to take a significant step in its quest for alternative energy.