Indian companies are seeking government support to reach a target of at least 65% of all new electric vehicle sales by 2030, according to an organization led by CEOs of large companies around the world leading the campaign.
More than 25 companies, including automakers Mahindra & Mahindra and Volvo, oil giant Shell and clean mobility startups, want India to set firm goals and develop policies to support the transition to electric vehicles (EVs). ), the World Business Council for Sustainable Development (WBCSD) said Thursday.
This is the first collective push from Indian companies to switch to clean mobility and comes weeks before a United Nations climate change conference, seen as crucial to securing more commitments from governments to stop global warming.
India is the world’s third largest emitter of greenhouse gases after China and the United States and is therefore vital in the fight against climate change.
Following the rapid growth of India’s renewable energy sector, decarbonization of transport is India’s next big opportunity to tackle climate changeJoe Phelan, Director, WBCSD (India)
Reaching the 2030 target could provide an investment opportunity of around $ 200 billion, the WBCSD said in a statement, adding that it would also reduce India’s road transport emissions by 15%.
The South Asian nation has some of the most polluted cities in the world, and the government has pushed automakers to switch to electric vehicles to purify the air and reduce costly oil imports. But companies have been slow to adjust, saying the price of electric vehicles is still high due to high battery costs and inadequate charging infrastructure is hurting sales.
In recent months, India has stepped up programs to incent companies to build electric vehicles and batteries locally in order to increase supply and complement a host of federal and state benefits for vehicle buyers. electric.
The WBCSD said that by 2030, companies want 30% of new cars, 70% of new motorcycles and scooters and 35% of new buses sold to be electric.
To achieve this, they want the government to legalize electric taxi services, grant fleet licenses for electric three-wheelers, ensure easy access to financing and rental opportunities for electric cars, and speed up the installation of public chargers. .
Indian bus maker JBM Group, motorcycle maker Hero Electric, utility vehicle maker Switch Mobility, energy company Fortum, IKEA and LeasePlan are also supporting the initiative.