Recent studies concerning consumer preferences in terms of driving options have shown that the people presently living in India are to soon demand that more EVs and hybrids be made available on the market.
More precisely, it seems that about 5-7 million such cars are quite likely to be purchased by green-heads in this part of the world in the not-too-distant future.
Naturally, this leaves the Indian government with no other choice but to agree to invest significant amounts of money in this particular branch of the transportation industry.
Oil Price reports that, during this year's National Electric Mobility 2020 meeting, high officials made it public news that, after carefully looking into this issue, they decided to provide the EVs and hybrids industry with funding of up to $4.1 billion (roughly €3.2 billion / 2.58 billion).
As is to be expected, this money will be spent on improving existing technologies and boosting production, the end goal being that of having roughly 6 million such vehicles going back and forth Indian roads as early as 2020.
Moreover, investments will be made in building charging stations and making road infrastructure more EV- and hybrid-friendly. Lastly, a financing unit is expected to help consumers gain easy access to these green-oriented driving options.
According to the same source, having this many EVs and hybrids driven on a regular basis all throughout India will translate into a considerably diminished need for the use of fossil fuels.
Commenting on these future investments, one representative of India's National Council for Electric Mobility pointed out that, “The resultant benefits from fossil fuel savings are projected at 2-2.5 million tonnes in 2020.”
From where we stand, India's decision to promote EVs and hybrids amongst its citizens comes as good news indeed, especially given the fact that burning less fossil fuels will help improve on this country's ecological footprint
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