Electric vehicles are a forward step towards a more sustainable progressive model (Bigerna and Micheli, 2018). Even the European Union is taking steps to build and use green technologies which will help to conserve the resources and emit less pollution in the environment.
Sustainable development helps in the growth of the present generation without sacrificing the growth of the future generation. Analysis of GHH platform shows that CO2 and its equivalent gases are increasing at the rate of 5.57 percentage year by year. Rapid urbanization has led to an increase in pollution by urban transport facilities.
The history of the electric vehicle dates back from 1880’s in Germany and from there it spread to the US and European markets. Due to the lack of infrastructure the market of Electric vehicle could not sustain and most of the companies that produced electric vehicle got bankrupt (Hoyer, 2008). In 1950’s again trend of electric vehicles gained importance but in 1980’s diesel buses gained popularity and there was a decline in the market of the electric vehicle. In 1990’s many countries raised concern towards climatic conditions and technology revolution was at its peak which once again led to the focus on electric vehicles however the potential buyers were less (ICCT, 2014; IEA, 2013).
In India, importance to electric vehicles was given by First Automobile Mission plan of 2005 however it was in 2015 through FAME policy incentives were given to the lithium-ion battery. In 2017 came the NITI AYOG Roadmap which aimed for 5 to 7 million electric vehicles by 2020.
Though the government want to move towards 100% mobility through electric vehicles by 2030 but the sales figures of the of electric four-wheeler had a decline of 40% in the year 2017-18. However, 2-wheeler are in better situation because they are lighter in weight so can work on less powerful batteries (Jadav and Shah, 2019). The government in FAME II policy has provided incentives to the lithium ion battery but the cost of manufacturing is still higher in comparison to lead acid-based battery (Wadhwa, 2019). For the four-wheeler there are lack of incentives to the private manufacturers so the cost of manufacturing of new models is high. The important stakeholder for Electric cars are the customers who should be made aware about frequency of car use and its effect on climate (Bigerna and Micheli, 2018). Climatic awareness is an important factor that acts as a motivator for electric vehicle purchase decision. Purchasing decision is also influenced by the opportunity cost however in long run people pay more importance to the social benefits and people’s opinion than cost (Greene et al., 2014). For self-sustainment of the electric vehicles, government policies to facilitate the production and use of electric vehicle are must. The government should take initiatives for the ambition of FAME II keeping in mind the ground realities of all the stakeholders.
Bigerna, S., & Micheli, S. (2018). Attitudes Toward Electric Vehicles: The Case of Perugia Using a Fuzzy Set Analysis. Sustainability, 10(11), 3999.
Electric Vehicle Sales Data – India – Auto Punditz http://www.autopunditz.com/news/electric-vehicle-sales-data-india/
EV sales in India cross 7.5 lakh mark in FY2019 https://www.autocarindia.com/car-news/ev-sales-in-india-cross-75-lakh-mark-in-fy2019-412542
Greene, D. L., Park, S., & Liu, C. (2014). Analyzing the transition to electric drive vehicles in the US. Futures, 58, 34-52.
Hoyer, K. G. (2008). The history of alternative fuels in transportation: The case of electric and hybrid cars. Utilities Policy, 16(2), 63-71.
ICCT Europe, 2014. European Vehicle Market Statistics. Pocketbook 2014 https://www.sciencedirect.com/science/article/pii/S1361920915002126
IEA, 2013. Global EV Outlook. Paris: International Energy Agency https://www.sciencedirect.com/science/article/pii/S1361920915002126
India’s electric vehicle goals being realised on two wheels, not four https://www.livemint.com/Industry/e9PkTsplmjnWLSjY7BZ2LO/Indias-electric-vehicle-goals-being-realised-on-two-wheels.html
Author: Dr. Meenakshi Malhotra
Also read : A STUDY ON PURCHASE INTENTIONS OF CONSUMER TOWARDS SHOPPING OF ONLINE APPAREL
Read More About MBA College Thane Blog
Share This: