Increasing demand for EVs
The Electric Vehicle (EV) sector is undoubtedly experiencing a sudden rise in its market growth throughout the planet. The transformation of the global automotive industry in recent years has witnessed significant transformation. The impact is also huge in terms of India, driven by the push of the Government of India towards sustainability. The Indian government is also fuelling the initiatives with schemes like Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME). No doubt, India is drastically aiming to increase the adoption of EVs and revolutionize the transportation sector towards sustainability through innovation.
But have you ever thought about why the demand for EVs is rapidly increasing?
Let’s try to find out some of the simplest answers in more detail.
Volatility of oil and energy dependency
It’s a known fact that the global economies have heavily relied on fossil fuels for more than decades. The dependency was especially on oil and gas. Well, this dependency created a vulnerable situation, which further went on to arouse situations of conflicts, trade restrictions, and fluctuations in the prices of oil. The world has witnessed the destabilization of national economies, which was backed by soaring fuel prices and sparked an energy crisis. The present situation of war between different nations is significantly disrupting the oil and gas supplies globally.
Now, it’s crystal clear to the whole world that total dependence on imported oil is economically risky as well as politically volatile.
Strategic Autonomy and shift in global alliances
In terms of geopolitics, the major superpowers such as China and the U.S are already sharing unfriendly relationships. Though both these countries have created significant influence in trade policies, technology, and are major suppliers of raw materials to some important products.
Considering the present geopolitical tension, many countries are seeking to reduce their reliance on unfriendly and unstable nations for importing critical resources. EVs are offering an alternative source of energy in the transport sector and promoting renewable production of energy, and also securing rare earth minerals.
Goals to reduce Global emissions
Facts on global warming are not unknown to all of us in the present scenario. Melting of glaciers in the polar areas, rising temperature worldwide, frequent wildfires, floods in the desert regions, as well as erratic weather patterns, are all posing a threat to humanity.
As per studies, it has been observed that nearly 20-25% of global carbon dioxide emissions result from transportation. The major contribution comes from the Conventional Internal Combustion Engine (ICE). Now it’s clear that a switch over to electric vehicles is a direct and most effective way to reduce emissions of carbon dioxide.
The goals of the environmental bodies throughout the world of carbon neutrality by the year 2050 can be positively impacted by using EVs in the transport sector. The tailpipe emissions of EVs are zero; thus, it has the capability to reduce the carbon footprint of a region significantly within a short span of time.
Pollution and public health
The quality of air in urban areas is deteriorating drastically, causing different health issues related to the respiratory tract, heart, and lungs. The average life span of people living in the urban region is reducing due to health-related complications. Pollution from vehicles is one of the leading contributors to air pollution and smog.
Use of EVs is a clean alternative that can reduce emissions and improve the quality of air in urban areas. Thus, the governments of different regions are promoting EVs to curb air pollution, which will uplift the living standard of urban people and reduce the expenditure on public health as well.
Technological advancement
In the starting days, one of the hurdles faced by EVs was a limited driving range due to a shortage of stations. But the introduction of lithium-ion battery technology has solved this problem completely. The range of EVs can now surpass even the diesel and petrol vehicles.
Why are EVs a good option for two and three-wheelers?
- Cost-efficient
Two-wheelers or three-wheelers are used frequently for daily transportation or delivering goods. Thus, the cost of running is very crucial to maintain the vehicle. EVs are cheaper than any petrol or diesel vehicles as charging EVs is significantly less per kilometre. The maintenance cost of EVs is also less as they don’t have engines, clutches, or gearboxes.
- Environment friendly
EVs are zero-emission vehicles and don’t emit harmful gases in the atmosphere like nitrogen oxides or carbon monoxide. Thus, the quality of air and public health improve.
- Renewable source of energy
Using EVs reduces the carbon footprint as well as reduces dependency on fossil fuel or oil. Thus, it strengthens and secures national energy and promotes the use of renewable sources of energy.
To wrap things up
The use of EVs was once considered a futuristic dream but is gradually shifting towards reality. Considering the current geopolitical situations worldwide and the present environmental factors, EVs are not only a cleaner alternative but also a safer, smarter, and more sustainable option.
EVs are a must for a more sustainable future. The journey has begun; we just need to join hands with each other.
