Editorial . . . . .
Electric vehicles can be a crucial tool in the fight against global climate change because they assist to reduce emissions and reliance on fossil fuels. It runs on an electric motor rather than an internal combustion engine, which produces power by burning a mixture of fuel and gases. The cost disadvantage of EV units has been a significant barrier in the transition to electric vehicles. However, this is anticipated to change quickly as, by the end of the next year, the cost of electric vehicles will be comparable to that of gasoline and diesel engines. The change is made feasible by growing government incentives, a variety of new vehicle types, and breakthroughs in battery technology. According to an analysis by global firm McKinsey, a considerable change in sales toward electric mobility is anticipated in most of Asia, including India, by 2025. Asia is predicted to be the largest market for EVs, followed by China and to a lesser extent India. With new nations like Indonesia joining the ranks through the use of its substantial nickel reserves, Asia continues to be a center for the production of batteries worldwide. With a new trend of OEMs engaging in backward integration in the battery sector, the growing demand is making the EV battery industry more alluring. The enticing incentive programs have attracted new players to the original equipment manufacture (OEM) market. Hero, a manufacturer of motorcycles, has begun selling electric two-wheelers, while Ather, a newcomer in the electric scooter market, plans to enter the market soon. According to McKinsey modeling, India and Indonesia will surpass China as the second and third-largest E2W markets in the world by 2030, increasing at a rate of more than 60% yearly. By 2030, this progress would result in a two-wheeler electrification rate of about 36% in India and ASEAN, up from less than 1% currently. In terms of EV sales in 2021, Uttar Pradesh had the most market share, followed by Karnataka and Tamil Nadu. While Karnataka and Maharashtra topped the two-wheeler and four-wheeler segments, respectively, UP also dominated the three-wheeler market. The Indian electric vehicle (EV) market is anticipated to grow at a compound annual growth rate of 36%, according to the India Energy Storage Alliance (IESA). Since India imports about 80% of its crude oil needs, dependency on conventional energy sources are not seen as a sustainable choice as population growth and the demand for automobiles increase. According to the Ministry of Heavy Industries, over 500,000 EVs have been registered in India over the last three years. EVs experienced strong growth in 2021, which was aided by the government’s adoption of beneficial laws and initiatives. Hero Electric is the market leader with a market share of 36%, followed by Okinawa (21%), and Ather Energy (11.1%). Numerous economic opportunities have arisen as a result of the EV drive in the areas of mobility, infrastructure, and energy. These prospects include, among others, those in the OEM market, battery infrastructure, solar vehicle charging, and battery swapping technology. The Ministry of Skill Development and Entrepreneurship (MSDE) estimates that by 2030, the EV industry might add 10 million direct jobs, resulting in the creation of 50 million additional indirect jobs.
Therefore, in order to address the environmental issues, and shifting of future technology of transportation, the Jammu and Kashmir government should move fast and come forward and announce a comprehensive Electric Vehicle Policy, with due emphasis on the replacement of two-wheelers, public transport including e-autos, e-buses, etc. and shared vehicles and goods-carriers instead of private four-wheelers, with Electric Vehicles (EVs) and establishment of necessary charging infrastructure. J&K Union Territory in this regard has already taken a major step towards making the UT self-sustainable, SMART, integrated, and carbon neutral but need to expedite the matter in the interest of the public and environment.