Sravan Appana
Electric cars will surpass traditional ICE vehicles by 2030, leading to more electric vehicles being introduced in 2023, increasing the share of electric cars compared with 2022. India has a bright future for electric vehicles, and EV technologies are expected to grow globally.
EV manufacturers are working together to reduce their operating and manufacturing costs. High fuel prices drive the sale of electric vehicles in India, and tax subsidies and tighter regulations encourage EV owners to purchase electric vehicles. The market for EV loans has boomed in recent years.
Tax rebates make electric vehicles relatively affordable for consumers to operate. EVs are also easy to maintain once purchased. The future of the Indian electric vehicle industry is bright.
The question arises: What global tech trends will affect EVs in India? Read on to find out.
Sustainability and reduced CO2 emissions
It’s surprising, but India’s CO2 emissions will be reduced by one gigatonne by 2030 if it switches to electric vehicles. In metros and mini-metros, this will reduce air pollution, making present and future generations healthier and happier.
The whole planet is dealing with global warming and climate change. EV buyers can do their part to protect the only planet we know by buying one. The zero tailpipe emissions made possible by millions of vehicle buyers will benefit everyone.
EV production technology
As battery technology advances, the popularity of electric vehicles will increase. Electric vehicle manufacturers will also need to continue producing and improving their vehicles. EV production will need to become faster and more efficient to meet the growing demand.
The economic scale will also help to reduce prices with a more efficient mass production process. EV players should also focus on OEM scale-up to support mass adoption at much lower prices and help achieve cost parity with ICEVs shortly.
Smart charging
A smart charger communicates with the vehicle and the grid, resulting in a reduction in energy costs for vehicle owners and the grid. Plus, it’s more efficient. Many electric cars take a long time and don’t charge fast since drivers don’t always need a full battery.
Charging can be scheduled to only go to 80% once a week based on how much energy the car needs, which also prolongs the battery’s life. With smart charging technologies, users can choose between using renewable energy, reducing CO2 emissions, and saving money.
Vehicle to grid
The V2G is an electric vehicle that converts electricity from its batteries into electricity for the grid while parked. Electric vehicles are getting smarter when it comes to charging, and these options allow drivers to charge as they wish, thus balancing the grid.
Vehicle-to-grid charging lets you export energy stored in a vehicle’s battery to the grid during times of high demand. Electric vehicle drivers are considered prosumers – buyers and suppliers of electricity – and are rewarded for it.
Autonomous cars to see growth
As the auto industry embraces self-driving technology, the autonomous vehicle segment will need to undergo major changes in 2022 if electric cars are to take off. Smart-connected cars that can be automatically summoned, parked and docked at charging stations are the future.
This would bring automakers and tech companies closer together, and it’s a win-win for both parties to develop futuristic technology, add more software features, and upgrade operating systems. Autonomous vehicles are popular among young drivers, especially since technology is getting better every day.
Telematics
It is widely acknowledged that corporations and businesses constantly strive to improve their mobility. Telematics and data provide a key component of this modernization, as we can see from how companies can optimize their fleets with the aid of telematics.
Telematics for electric vehicles integrates automotive telematics with fleet management. Technology makes fleet management easier, so fleet managers can adapt to the inevitable changes as more electric vehicles are introduced to the market.
Many people are interested in this technology, and it is growing at about 16% CAGR (2016-20). Fleet telematics systems provide navigation, safety, security, and communication capabilities and valuable fleet performance data.
Conclusion
It’s clear that the Indian electric mobility industry is making significant progress, but it’ll take time. As the country races to become a battery manufacturing hub, the future of all-electric vehicles is definitely on the horizon. The right path has been laid, and a shift in direction has been made.
The author is CEO of iGowise Mobility.
Disclaimer: Views expressed are personal and do not reflect the official position of the author’s institution or policy of Financial Express Online. Reproducing this content without permission is prohibited.