The Union Minister for Power and New & Renewable Energy, Shri R. K. Singh launched a brand-new EV-Ready India Dashboard (evreadyindia.org) in New Delhi. Developed by policy and industry experts at thinktank OMI Foundation, the dashboard is a free digital platform focused on near real-time Electric Vehicle adoption and forecasts, associated battery demand, charging density, and market growth trends. The dashboard is expected to facilitate greater inclusion across audiences, for the industry, policymakers and end users of electric vehicles.
The platform leverages the power of data and AI and seeks to address the need for macroeconomic data and analysis on India’s massively growing electric mobility segment. The EV-Ready India dashboard has forecast a 45.5% Compounded Annual Growth Rate (CAGR) in electric vehicles between calendar year (CY) 2022 and CY 2030, increasing from annual sales of 6,90,550 electric two-wheelers (E2Ws) in 2022 to 1,39,36,691 E2Ws in 2030.
Addressing representatives of central and state governments, industry, World Bank and other stakeholders at the launch event, the Union Minister for Power and New & Renewable Energy asserted that the future is going to be electric. “The future is electric. Nobody can stop this. The price of storage will come down, and once that comes down, diesel and petrol SUVs will be history. We will have electric, which suits in our journey as one of the largest economies of the world.”
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Shri Singh said that it is absolutely essential for India as a country to switch to electric mobility. “We want to move up from 5th largest to 3rd largest economy and increase our heft in strategic affairs. This requires energy independence, which is the primary reason for Electric Vehicles.”
Understanding the new dashboard
According to OMI Foundation, EV-Ready India Dashboard is the only dashboard in India that compiles sales data across all Vahan states and Telangana, along with a direct view into the state of charging infrastructure, demand trends and comparisons of Total Cost of Ownership, making it useful for the EV buyers as well. Additionally, it tracks the current investment climate for EVs, and forecasts on market growth and EV hotspots for the country. It further measures emissions avoided, aiming to accelerate India’s journey to Net Zero.
Key features
For the policymakers and industry, the dashboard presents consolidated sales data for all 34 Vahan states and Union Territories, and the additional Telangana. The data is visualised for easy understanding of adoption rates and trends presented by time period, form factors, states, and more.
The dashboard shows forecasts on EV adoption, and associated battery demand till 2030, allowing both policymakers and industry alike to strategize and execute their clean mobility goals. In addition to pan-India projections, the dashboard presents state-wise projections, in a first-of-its-kind approach.
For the end user, i.e. the (potential) buyer of EVs, the dashboard shows financial benefits of EV ownership, including potential savings on upfront costs, operating and maintenance costs, etc. On the click of a button, the user can also review the list of EV models that are eligible for subsidies and the quantum of such subsidy.
