Growth could have been steeper had the fleet segment not got hammered due to the pandemic-induced curbs on public transport
While improvements in mileage and battery capacity have been made and are ongoing, issues of high price points and availability of charging infrastructure are also being addressed
Support from Centre on alternative fuel technologies and batteries holds key
The fleet of 10,000 EVs will include three-wheelers and four-wheelers, which have been designed and manufactured in India
Recently, Union minister Prakash Javadekar told Parliament about 285,000 buyers of electric/hybrid vehicles had been supported by a subsidy of Rs 360 crore under FAME.
The running cost of electric vehicles is lower, but there is a high upfront capital investment. Lack of charging infrastructure is another impediment
Currently, EV industry comprises less than 1% of total vehicle sales and is dominated by two-wheelers (95%)