Inviting applications for the SAREP Grants Annual Program Statement (APS) – FY2024. For more information click Here.

Introduction

The Government of India (GoI) has set for itself a target of decreasing emissions intensity of its GDP by 45% in 2030 (from 2005 levels).
At present, the road transportation sector accounts for 12% of India s energy-related CO2 emissions. With the growing demand for private mobility and goods transportation, energy consumption and CO2 emissions from road transport is likely to double by 2050, as per IEA (International Energy Agency)
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The Government of India has recognized that reduction in road transport emissions would go a long way in attaining its emission reduction targets and has accordingly launched various schemes in the past, including
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Faster Adoption and Manufacturing of Electric vehicles (FAME)

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Production Linked Incentives
(PLI)

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National Electric Bus Program (NEBP) and PM e-Bus Sewa for deployment of 50,000 electric buses

GoI has pledged that by 2030, 30% of all new vehicle sales in India will be electric and the cumulative investment requirement to achieve this target is around $200 bn

Although India has made significant strides in e-mobility, the following challenges remain:

Nascency of the sector and rapidly evolving technology

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Uncertainty around useful life, salvage value and the lack of a secondary market

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Limited availability of end-user financing options

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Inadequate supporting infrastructure

SAREP, through its initiatives, is working with various public and private sector entities to support the realization of India s goals in the e-mobility sector.

The South Asian countries, apart from India, have also pledged to transition towards e-mobility.

The major targets announced in e-mobility are as follows:

India
India
  • GoI has pledged that by 2030, 30% of all new vehicle sales in India will be electric and the cumulative investment requirement to achieve this target is around $200 bn
Sri Lanka
  • GHG emissions reduction by 4% in the transport sector through e-mobility and other measures
Bhutan
  • Passenger cars: 20% by 2025 and 50% by 2030
  • Buses: 10% by 2025, 50% by 2030
  • Medium vehicles/trucks: 5% by 2025, 20% by 2030
  • Heavy vehicles/trucks: 5% by 2030
Nepal
  • Private vehicle sales – 25% by 2025 and 90% by 2030
  • 4W Passenger vehicle sales – 20% by 2025 and 60% by 2030
  • Medium vehicles/trucks: 5% by 2025, 20% by 2030
  • Develop 200 km of electric rail network
Bangladesh
  • Increase the share of EVs to at least 15% of all registered vehicles by 2030
Maldives
  • Net-zero emissions by 2030

Key Interventions

  • Design and setting of Payment Security Mechanism
  • Procurement bid documents/contracts for NEBP and PM’s eBus Sewa in partnership with CESL, MHI, MOHUA and Delhi government
  • Innovative business models for scaling up e-Bus deployment
  • Impact assessment of e-Bus transition for Bhutan
  • Supporting capital raise transactions for public and private entities like TheeGo in Nepal
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  • Design of innovative business models – ‘EV charging as a service’ with CESL
  • Developing procurement frameworks for setting up charging infrastructure at public places – with Indian Railways and Bhutan
  • Charging action plan for 4 cities in Haryana
  • Charging Station Assessment Tool (CSAT) to identify priority locations for setting up charging infrastructure
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  • Developing cost economics, impact assessment and business case for enabling the transition to electric 4 wheelers (e4W) for public entities like IR, MPMKVVCL and HAREDA
  • Frameworks for onboarding service providers for operating the e4W fleet
  • Mobilizing investments in e-mobility by setting up investment platform and organising investor summits
  • Supporting capital raise transactions worth $150 million for public and private entities like Alt mobility, Lithium, Ziptrax, TheeGo
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  • Industrial Training Institute (ITI) course for EV repairs with HAREDA
  • Organizing study trips on e-Mobility for South Asian countries

Key Achievements

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Tender released for 3,825 e-buses by CESL

Investments worth $6 million mobilized through the e-mobility investment mobilization platform

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Use of CSAT to identify priority locations for setting up EV charging infrastructure in Delhi

Report on e-Mobility Investment Landscape Report in partnership with Invest India

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EV Technical Handbook for EV charging in partnership with PSSC

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Exchange visit for Bhutan government officials to understand the EV ecosystem in India