Top 5 Trends that will Shape Up India’s EV Industries
India is committed to achieving a net-zero carbon emission economy by 2070. And also, the shortage of petroleum products and the increasing reliability and availability of renewable energies like Solar, wind, and green hydrogen eased the adoption of electric vehicles EVs/PHEVs.
In India, in the financial year 2022, 4,29,217 electric vehicles have been sold as compared to 1,34,821 EVs sold in the financial year 2021. Still, the EVs/PHEVs adoption rate is about 2% due to the huge price difference between EVs and conventional IC engines, the lack of charging facilities, immature battery technologies causing range anxiety, and improper awareness among buyers.
Here are the top five trends that should be taken by the government and EVs
manufacturers collectively to Shape up EVs industries in India.
1.Easy access to raw materials, power electronics chips, and other components needed for EV production in India
The government should take this action in the main. Because there is less expense associated with labor and transportation when an electric car is entirely produced in India, it is less expensive than imported EVs.
For an unimpeded supply chain and affordable raw materials to manufacture EVs in India, the government should have strong relations with the various nations that are the key producers of EV components or raw materials. For instance, silicon (used in electronic circuits) is primarily found in China, Russia, Brazil, and Norway, whereas lithium metal ore is primarily found in Chile, Australia, Argentina, and China. We have observed how production has been hindered by the COVID-19-related scarcity of electrical chips.
The government may support the EV industry in India by offering subsidies, lowering taxes on EV purchases, and increasing loans and incentives to OEMs like FAME-I and FAME-II.
The EV business in India will also grow if exporting EVs from India is made simple.
2.Building more EV-related infrastructure
These infrastructures could include service centers, charging stations (including AC and DC fast charging), and more.
Buyer of the electric vehicle currently has range anxiety as their top concern. This can be avoided by developing energy storage (battery/fuel cell) technologies and expanding the infrastructure for charging stations, particularly for fast charging with outputs ranging from 50 kW to 250 kW and higher. The more charging stations that are available, the more convenient it will be for consumers to charge their cars, increasing the dependability of EVs.
The idea of smart charging is also highly advantageous because it judiciously permits power transfer from the grid to the vehicle (G2V) and from the vehicle to the grid (V2G), effectively utilizing the rates and load on the grid system.
3.Development of Energy Storage Technologies
It refers to the various power sources utilized to power EVs’ propulsion systems, such as batteries, fuel cells, ultracapacitors, flywheels, etc. Due to their distinct qualities, such as their high energy density, long cycle life, and relative support for fast charging, batteries (mostly Li-ion batteries) are currently utilized primarily for electricity.
However, it is expensive and needs an expensive battery management system for best use, which drives up the price of EVs. Additionally, recycling is still in its infancy, thus old Li-ion batteries don’t provide customers with a good return on their investment.
To boost the energy capacity of EVs, other different batteries, including metal-air and solid-state ones, are being investigated.
The idea of “e-Highways” has a big impact on electric cars, especially for large vehicles like trucks and buses. Because these vehicles can directly connect to the grid via pantograph or wirelessly, their batteries can be smaller, which lowers their cost and weight.
4. Boosting the user experience
The more attractive electric vehicles become to consumers, the better the driving experience a user has.
The usage of the internet of things (V2X) and artificial intelligence that leads to autonomy in driving (growing level of ADAS) will further boost positive experiences for the user. Electric vehicles now produce very little noise and vibration when driving. Advanced driver assistance systems (ADAS) reduce driver effort while also helping to avoid accidents on the road.
5. Growing Infrastructures of Power Systems
The country’s ability to produce electricity will determine how well EVs perform. Only when the electricity is produced from renewable resources will the electric automobile achieve its goal of enabling a society with net-zero carbon emissions.
Electric vehicles (EVs) are extremely unpredictable mobile loads for the power system, which results in harmonic production and grid voltage loss. Solar parks should be situated close to super-charging stations for the grid to operate more efficiently.