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EESL looks for 10K Electric Cars by Mar-Apr 2018

EESL Electric Cars

State owned Energy Efficiency Services Ltd. (EESL) floated another tender for more 10,000 electric vehicles with governments in line vision of all electric cars by 2030 in India.

New Delhi: In view of rising pollution level in Delhi/NCR, the government is planning to provide clean mode of transportation to India. For this purpose, the government is planning to launch all electric vehicles on road by 2030. The main objective of EESL is facilitating faster adoption of technology solutions. With this objective EESL seeks to create the market for electric vehicles and a technology which is self-assured to boost e-mobility in the country.

Earlier, EESL has floated tender for 10,000 electric vehicles, which was its first tender. Mahindra & Mahindra (M&M), Tata Motors and Japanese carmaker Nissan had bid for the EESL contract to provide 10,000 electric vehicles. In which TATA Motors won the tender and agreed to supply the Electric Vehicles in two phases i.e. first 500 e-cars will be supplied to EESL in November 2017 and the rest 9,500 EVs will be delivered in the second phase. Tata Motors quoted the lowest price in the bidding process which is 25% lesser in price than the current retail price.

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Now, for next year March or April, EESL floated another tender for more 10,000 electric cars. Moreover, EESL plans to have a big share in the electric vehicle charging infrastructure market. In October 2017, EESL has also floated tender for AC and DC electric vehicle chargers.

As per the report published in May 2017 by Niti Aayog, making India’s passenger mobility shared, electric, and connected can cut its energy demand by 64% and carbon emissions by 37% in 2030. This would bring about a decrease of 156 Mtoe in diesel and petroleum utilization for that year and at USD 52/bbl. of crude, this would infer a net funds of generally Rs 3.9 lakh crore in 2030. The move to EVs through this program will reduce dependence on oil imports and advance power limit expansion in India thereby enhancing energy security of the nation and will also lead to reduction in GHG emissions from the transport sector       

TechSci Research depicts that the increasing air pollution due to vehicular and industrial emissions coupled with growing awareness about the harmful effects of air pollution in the metro cities is going to upsurge the demand for electric vehicles in India. Furthermore, India has been increasingly investing its focus on reducing the fossil energy usage and promote low-carbon energy sources by investing heavily in clean energy vehicles including electric and hybrid vehicles.

Such initiatives by the country is anticipated to curb the air pollution levels and is further expected to significantly benefit the India electric vehicle market.  Electric vehicles offer a vast opportunity backed by their almost negligible carbon emissions and comparatively lower maintenance cost to traditional fossil fuel vehicles. However, a prominent factor hindering the growth of the electric vehicle market is the price of these vehicles, which is comparatively much higher than their conventional counterparts.

According to the recently published report by TechSci Research, “India Electric Vehicle Market, By Vehicle Type, By Drivetrain Technology and By Charging Infrastructure Trends, Competition Forecast & Opportunities, 2013-2023”, the market for electric vehicles in India is projected to grow at a CAGR of 100%  2023. The electric market In India is prominently dominated by the three-wheeler segment with a share of about 92.06%, in volume terms in FY2017. Moreover, in India, lithium ion battery is one of the most preferred battery type in electric vehicles. Lithium ion batteries are widely used in several electric vehicles owing to its several advantages over the other batteries. Lithium ion batteries has a largest share in the electric vehicle market of the country in 2016. 

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