The Indian government is intensifying its efforts to bolster the Electric Vehicle (EV) industry and fortify the associated charging infrastructure, aligning with its commitment to achieve a net-zero emission target by 2070. Finance Minister Nirmala Sitharaman, during her presentation of the Interim Union Budget 2024 on February 1, emphasized the nation’s focus on expanding the EV ecosystem and enhancing the charging infrastructure to support the transition to cleaner modes of transportation.
“With India’s aim to achieve net zero emissions by 2070, the government is dedicated to expanding and fortifying the EV ecosystem while concurrently developing the essential charging infrastructure,” stated Finance Minister Sitharaman.
In addition to supporting the EV manufacturing sector, the government is set to facilitate the shift to cleaner public transport by transitioning a significant portion of buses to electric vehicles. Sitharaman highlighted this initiative, stating, “Our government is committed to the expansion of electric vehicles and will advocate for increased adoption of electric public transportation, particularly buses, accompanied by a formalized payment mechanism.”
The move towards electrifying public transport aligns with Prime Minister Narendra Modi’s earlier commitment to electrify a substantial portion of India’s public transport.India aims to achieve a considerable share of electric vehicle sales by 2030, with targets set at 30 percent for private cars, 70 percent for commercial vehicles, 40 percent for buses, and 80 percent for two-wheelers and three-wheelers. These goals underscore the comprehensive approach the Indian government is taking to promote sustainable and environmentally friendly modes of transportation.
As the government places a strong emphasis on the expansion of electric vehicle manufacturing, coupled with the development of a robust charging infrastructure, India is poised to make significant strides in its journey towards a cleaner and greener automotive landscape. The commitment to net zero emissions by 2070 reflects the nation’s proactive stance in addressing environmental concerns and embracing sustainable solutions for the future.
