Indian businesses seek government support to meet 2030 EV target

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NEW DELHI, Oct 14 (Businesshala) – Businesses in India need government support to meet the goal of at least 65% of all new vehicle sales to be electric by 2030, according to an organization led by CEOs of major companies around the world. are demanding. Push.

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Over 25 companies including automakers Mahindra & Mahindra (MAHM.NS) and Volvo (VOLVb.ST), oil giant Shell (RDSa.L) and clean mobility startups want India to set firm goals to support the transition and formulate policies. The World Business Council for Sustainable Development (WBCSD) on Thursday called for electric vehicles (EVs).

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This is the first collective push by companies in India to switch to clean mobility and comes weeks ahead of the United Nations’ climate change conference – seen as key to scrapping over-commitments from governments to curb global warming.

India is the world’s third largest greenhouse gas emitter after China and the United States and is so important in the fight against climate change.

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“Following the rapid growth in India’s renewable energy sector, transport decarbonization is India’s next big opportunity to address climate change,” said Joe Phelan, Director of WBCSD in India.

Meeting the 2030 target could provide an investment opportunity of about $200 billion, which will reduce India’s road transport emissions by 15%, WBCSD said in a statement.

The South Asian nation has some of the most polluted cities in the world and the government is pushing automakers to switch to EVs to clean the air and reduce costly oil imports. But companies have been slow to adapt, saying EVs still cost more as batteries cost more and insufficient charging infrastructure impacts sales.

In recent months, India has made plans to incentivize companies to make EVs and batteries to boost supply locally and as a complement to federal and state benefits for EV buyers.

WBCSD said that by 2030 companies want 30% of new cars, 70% of new motorbikes and scooters and 35% of new buses to be electric.

To achieve this, they want the government to legalize e-bike taxi services, grant fleet permits for electric three-wheelers, ensure easy access to finance and leasing opportunities for electric cars, and set up public chargers. Speed ​​up

Indian bus maker JBM Group, motorcycle maker Hero Electric, goods vehicle maker Switch Mobility, energy company Fortum, IKEA and LeasePlan are also supporting the push.

Reporting by Aditi Shah Editing by Mark Potter

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