India has suitable environment to develop EV ecosystem further :COP26 Ambassador says at TERI webinar

“Electric vehicles are already cheaper to run than ICE vehicles and they are expected to be cheaper to buy within the next few years. India has a great foundation, strong commitment, and suitable environment to develop its EV ecosystem further”, said Mr Ken O’Flaherty, Regional Ambassador for Asia-Pacific and South Asia for United Nations’ Climate Change Conference (COP26).

The COP26 Ambassador was speaking on December 1 at the webinar on ‘Future of E-Mobility in India: Strategies to Drive Demand’ – part of COP26 webinar Series.

The four-day discussions were convened by The Energy and Resources Institute (TERI) in partnership with the British High Commission, New Delhi, in the run-up to its annual global conference, the World Sustainable Development Summit, scheduled from February 10 to 12, 2021.

“As hosts of COP26, the UK is trying to set a strong example with our legally binding targets to cut emissions by 2030 whilst growing our economy. We have cut coal use in the power sector from almost 40 pc in 2012 to 5 pc in 2018, and we will phase it out entirely by 2025.” the Ambassador added.

Mr Pietro Sferra Carini, Deputy Chief of Mission, Embassy of Italy, emphasised the need for an integrated approach. He said, “The digitalisation of electric grids will be essential to reduce emissions and enhance efficiency. The old concept of zero-carbon transport revolves around the idea of infrastructure networks and grids that go hand-in-hand with the production of EVs.”

Delivering his special remarks at the event, Dr Ajay Mathur, Director General, TERI, said “India’s transport sector should move from fossil fuels towards electricity, and in the future, aim that this electricity is generated from renewable energy.”

Industry representatives including Mr Mahesh Babu, MD & CEO, Mahindra Electric, Mr Rajeev Chaba, MD, MG Motors; and Mr Sohinder Gill, CEO, Hero Electric, emphasised that the Indian market will require different approaches across segments, and even cities.

They also stressed on the need for collaborations among various players and the need to address consumer issues by building demand by putting the first batch of a million EVs on the road and generating word of mouth awareness, and by building the charging infrastructure required to allay consumer anxiety about charging.