India will shine with electric cars, will leave Japan and Korea behind in 5 years, this big plan is ready!

India's EV production capacity is expected to reach 2.5 million units by 2030, making the country the world's fourth-largest EV manufacturer. The government is pushing for Make in India and reducing costs to compete internationally.

Maruti Suzuki has prepared its first electric SUV e-Vitara. On Tuesday, Prime Minister Narendra Modi flagged off this vehicle from Maruti's plant in Gujarat. It is believed that the company can launch it in India in September, although for now this vehicle will be exported abroad. e-Vitara is also special because it is Maruti's first fully electric car. Till now, companies like Tata and Mahindra have dominated the EV market in India, but now Maruti has also entered the field.

A report by a New York-based research firm called Rhodium Group suggests that India's electric car manufacturing capacity could reach 2.5 million units (2.5 million) annually by 2030. This is 10 times more than the current capacity (2 lakh units). If this happens, India could become the world's fourth largest EV manufacturer after China, Europe and the US. But the report also says that if India wants to survive in the international market, it will have to reduce the cost of production so that it can compete with big powers like China.

Production capacity of EV vehicles will be more than the demand

According to Rhodium's report, by 2030, the demand for electric cars in India will be between 4 lakh and 14 lakh, but the production capacity can reach 25 lakh. This means that more vehicles will be manufactured in India than the number of vehicles required. This means that a large number of EV vehicles manufactured here will be ready for export, that is, outside the country. But this is possible only when our companies reduce their costs so that they can compete with big players like China and survive in the international market.

The government's Make in India for the World plan is now gaining momentum in the case of electric vehicles as well. Big companies like Tata Motors, MG Motor, Mahindra together hold about 90% of the country's EV market. But just making vehicles is not enough. If India has to make its place in the world market, then it will have to remain strong in terms of price and cost as well. China is already making very cheap and large number of electric cars, which gives it an edge. Therefore, our companies will have to improve technology, produce on a large scale and adopt new ways to reduce costs. Only then will they be able to survive in international competition.

India will become top-4 EV manufacturer

By 2030, India's production capacity of electric vehicles can reach 25 lakh, making it the world's fourth largest EV manufacturer. During this time, India will also leave behind Japan and South Korea. Currently, Japan's capacity is about 11 lakh units and South Korea's is about 5 lakh units, but future plans are being made slowly in both the countries.

On the other hand, things are changing very fast in India. Currently, 2 lakh vehicles are being produced here, and the capacity of 3 lakh is about to start. Apart from this, factories are being built for 13 lakh units and new plans for 7 lakh units have also been announced by the government and companies. All this shows that India's electric vehicle sector is growing very fast and in the coming time, India can leave behind many other countries by becoming one of the world's largest EV manufacturers.

The EV sector got a boost due to the emphasis on 'Made in India'

India has chosen a different and strong path to promote electric vehicles. The government has played an active role at every step from the manufacture of vehicles to their sale. For this, subsidies were given to the customers so that they can buy EVs and it is cheaper. Also, a condition has been put to manufacture the vehicles in India itself. Special incentives have also been given to those who make batteries and other parts so that they increase production here. Special attention is also being paid to improving charging stations and necessary infrastructure. Apart from this, the government has imposed heavy import duty on completely built foreign electric vehicles, which ranges from 70% to 100%. This has made it expensive and difficult for foreign companies to sell vehicles directly in India. The result of this is that now almost all the electric vehicles made in India are being manufactured by the country's own companies.

India's pace in battery manufacturing is increasing

India has also made rapid progress in the field of batteries. The report shows that India has now joined the select countries where the production of both battery cells and modules is increasing. It is estimated that by 2030, India's battery cell manufacturing capacity can reach 567 gigawatt hours (GWh). This figure will be fourth in the world after China (4,818 GWh), America (1,169 GWh) and Europe (997 GWh), and ahead of countries like Korea, Japan and Malaysia. However, Rhodium's report also warns that India's rapid growth is still mostly based on projects under construction or just announced. That is, if these projects are not completed on time, the risk will remain.

India's EV sales slow

On the other hand, India is a little behind in terms of buying EVs. For example, in Vietnam, where only 3% people used to buy EVs in 2022, this figure reached 17% by 2024. Whereas in India, the sale of electric cars was only 2% by 2024, which is quite low. This means that the EV market in India is big, but some important things have to be fulfilled to make it successful. First of all, the government policies should be clear and consistent so that people can trust it. Also, the prices and manufacturing cost of vehicles should be low, so that people can buy it easily. The most important thing is that the people who buy EVs should have a good experience, that is, everything from driving to charging should be easy and comfortable. Only then will India's EV industry be able to really move forward.

PC:TV9Bharatvarsh