India’s EV Strategy Slashes $106 Billion in Oil Imports

Are you ready to witness one of the most ambitious electric vehicle transformations in the world? India is making waves, with EV adoption surging from a mere 0.7% in 2020 to an impressive 6.3% in 2024. But this is just the beginning of an electrifying journey.

The Electric Revolution: A Game-Changing Transformation

The Staggering Impact: By the Numbers

MetricProjected Outcome by 2035
Oil Import Reduction$106.6 Billion
Daily PM2.5 Emission Reduction11.5 Tonnes
Greenhouse Gas Emission Cut61 Million Tonnes
New Jobs Created370,000
EV Charging Website Image Cover 01 1 India’s EV Strategy Slashes $106 Billion in Oil Imports

Why This Matters

A groundbreaking study by The Energy and Resources Institute (TERI) reveals a transformative potential for 44 Indian cities with populations over 10 lakh (1 million). The plan involves phasing out 11.4 million older vehicles between 2030 and 2035.

The Environmental Imperative

India’s cities have some of the world’s most polluted air, with transportation being a primary culprit. Road transport alone is responsible for over 13% of the country’s energy-related greenhouse gas emissions.

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Infrastructure Transformation

To make this vision a reality, the study recommends establishing:

  • 45,000+ Public EV-Charging Stations
  • 130 Vehicle-Scrapping Facilities

The Job Creation Potential

The complete Electric Vehicle transition could create around 3.7 lakh (370,000) new jobs in the electric vehicle and renewable energy sectors.

electric vehicle 1 India’s EV Strategy Slashes $106 Billion in Oil Imports

Also Read: Jeep Compass EV Spotted Testing Ahead of 2025 Debut

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Frequently Asked Questions

Q: How significant is India’s Electric Vehicle adoption?

A: From 0.7% in 2020 to 6.3% in 2024, India now has nearly 5 million registered Electric Vehicles, preventing an estimated 10 million tonnes of carbon emissions.

Q: What’s driving this Electric Vehicle transformation?

A: Key drivers include supportive government policies like the PM E-DRIVE scheme, state-level Electric Vehicle policies, and significant investments totaling $21.53 billion.

Q: Are all cities participating equally?

A: Regions like Delhi, Chandigarh, and Tamil Nadu are leading the charge in Electric Vehicle adoption and production.

The Road Ahead

While a complete Electric Vehicle transition is ideal, researchers suggest a mixed approach of electric and CNG vehicles could also be implemented. However, this would result in 30% lower greenhouse gas reductions.

Conclusion

India’s electric vehicle revolution is more than a technological shift—it’s a comprehensive strategy to combat pollution, reduce oil dependence, and create a sustainable future. The $106 billion oil import reduction is just the beginning of this electrifying journey.

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