India can save Rs 20 lakh crore by investing in electric vehicles
India can save Rs 20 lakh crore by investing in electric vehicles
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Investment in electric vehicles can be very beneficial for India. It is expected to save about Rs 20 lakh crore in the next 13 years. The report of Industry Board FICCI and Rocky Mountain Institute says that adopting the Electric Connected Mobility System for India can save 330 billion dollars (Rs. 20 lakh crore) in crude oil expenditure by 2030.

What is special in the report?

It has been stated in the report that India can develop shared, electric and connected mobility system in addition to the Western mobility of Private Vehicle Ownership. If Mobility is also adopted, 46,000,000 crore vehicles can be sold by 2030, which will be two-wheeler, three wheeler, and four wheeler vehicles.

India will have these advantages

By the year 2030, the value of 330 billion dollars will save not only 876 million metric ton oil but also a one-kilogram of carbon dioxide emissions. The biggest problem for starting electric vehicles in India is their cost and charging efficiency. At the same time, awareness among the consumers will also increase.

"India can leapfrog the western mobility paradigm of private-vehicle ownership and create a shared, electric and connected mobility system, saving 876 million metric tons of oil equivalent, worth $330 billion and 1 giga-tonne of carbon-dioxide emissions by 2030," said the agency.

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