The EV-Ready India dashboard has forecast 45.5% CAGR in electric vehicles (EV) growth between 2022-30, increasing from annual sales of 6,90,550 electric two-wheelers (E2Ws) in 2022 to 1,39,36,691 E2Ws in 2030.

Addressing representatives of central and state governments, industry, World Bank and other stakeholders at the launch event, the Union Minister for Power and New & Renewable Energy R. K. Singh asserted that the future is going to be electric.

“The future is electric. Nobody can stop this. The price of storage will come down, and once that comes down, diesel and petrol SUVs will be history. We will have electricity, which suits our journey as one of the largest economies of the world,” said Singh.

Singh launched a brand-new EV-Ready India Dashboard (www.evreadyindia.org) in New Delhi.

Developed by policy and industry experts at think tank OMI Foundation, the dashboard is a free digital platform focussed on near real-time Electric Vehicle adoption and forecasts, associated battery demand, charging density, and market growth trends.

The dashboard is expected to facilitate greater inclusion across audiences, for the industry, policymakers and end users of electric vehicles. The platform leverages the power of data and AI and seeks to address the need for macroeconomic data and analysis on India’s massively growing electric mobility segment.

The Union Minister for Power and New & Renewable Energy emphasized the importance of decarbonizing the transport sector and said that transport accounts for 18% of our emissions, just below industry and the government was actively promoting EVs.

Singh emphasized that the adoption of electric vehicles is critical for a growing economy like India as well as for climate action.

“It is necessary to change the climate change discourse and make it real. The discourse on climate action has been driven by developed countries, which has been nothing but hypocritical. Our per capita emissions are one third of global average, while that of developed countries is three times the global average. We are responsible for only 4% of legacy carbon dioxide load on the planet even though our population is 17%. So, we have added least quantum of carbon on a per capita basis and we are adding at the slowest possible rate on a per capita basis,” commented Singh. 

The Minister reiterated that any assessment of carbon emissions has to be on a per capita basis, not on absolute terms.

“Moreover, India is the only major economy whose energy transition actions are consonant with the sub-two-degrees-Celsius rise in global temperature. We are the only major economy which has achieved all its NDC commitments in advance. No other country has renewable energy capacity that has grown so fast. We achieved NDC of reducing emission intensity in 2019, 11 years in advance. So, in Glasgow, we said that we will have 50% of our power capacity coming from non-fossil-fuel sources. We pledged that we will reduce our emissions intensity by 45%,” added Singh. 

Singh said that transition to EVs will reduce our emissions and it is important to us as a government since we value our planet, it is in our culture. We are taking action since we believe in the environment.

Tamil Nadu emerges as the E2W manufacturing hub of the country, Telangana leads in E3W manufacturing, Maharashtra in E4W manufacturing, Gujarat in battery manufacturing, and Karnataka in R&D. The dashboard also reports that India has avoided an estimated 5.18 million tonnes of CO2 emissions in 2023 so far, equivalent to 85.47 million tree seedlings covering twice the cumulative area of Lakshadweep islands.

Aiswarya Raman, Executive Director, OMI Foundation said, "EV-Ready India is a dashboard that is all-in-one and free for all. It is for all those who want to be a part of India’s EV journey. This is a milestone for OMI Foundation, as it culminates extensive research, statistical analysis, and relentless dedication of our inhouse experts. The platform is meant to enhance knowledge, foster ecosystem-wide collaboration and underpin effective policy making – as we continue to make this dashboard more comprehensive, and insightful. It is our contribution towards positioning India as a leader in sustainable mobility.”