Electrification of the auto industry is not a choice but a compulsion

With consistent government push towards net zero and strong backing of incentive-based regulations and schemes for production and sales, the Electric Vehicle segment is one of the booming industries in the world. Shwetank Jain, Founder and CEO, Belectriq Mobility, points out the rising demand for Electric vehicles (EV) in Tier 1 cities and how localisation must ensure electrification.
What are your thoughts on the government’s plan to have 40 per cent of electric vehicles on Indian roads by 2030?
The world is going through Climate Emergency, and any step that helps tackle this problem should be appreciated and supported. In this context, India has also made commitments towards Net Zero by 2070, which include a promise for India to get 50 per cent of its energy from renewable resources by 2030, and by the same year, to reduce total projected carbon emissions by one billion tonnes. This is impossible unless vehicular pollution is emitted, so electrification of the auto industry is not a choice but a compulsion.
So, we have no doubt the EV revolution will spread further to all vehicle segments and geographies. All major EV OEMs are sitting on large order books and ramping up capacities to address the increasing demand.
What issues complicate the expansion of charging infrastructure to fulfil EV demand?
There are several challenges in expansion of EV charging expansion:
• Lack of financing: One of the key problems being faced is the lack of funding for setting up public charging stations. Few players have come up in the EV financing domain but are largely focused on financing electric vehicles. We are yet to find suitable debt or lease options for setting up charging stations.
• Lack of standardisation, high-speed chargers: We have several types of connectors, especially in fast charging (CCS2, GB/T and Chademo), which not only reduces the utilisation rates of these expensive chargers but also creates uncertainty in the minds of stakeholders on which technology they should be investing.
• Power Infra for Public Charging Stations: Another issue many of our clients face is getting a power connection, especially for DC Fast charging. It is a time taking and expensive process as customers have to bear the cost of setting up the backend power infra in addition to the charger costs. Moreover, charging companies have to live with wide Voltage fluctuations and bad internet network connectivity at several locations.
What are your views on having more localisation and home-grown chargers for EVs?
Localisation is a must to ensure electrification is not done at the cost of jobs and trade in the existing auto and auto components industry. Indigenously grown technology and production shall result in better end-product availability, faster service and more trust. Also, when the majority of the population is using EVs and if we are reliant on other countries for the supply of critical components, then it can hamper us if there is tension between two countries. That’s why we should concentrate on maximum localisation for batteries, EVs and EV charging stations for sustainable electrification of the EV industry.