The Finance Minister is expected to make a strong pitch for the development of the electric vehicle ecosystem owing to the Government’s commitment towards reducing the carbon footprint and green-house gas emissions. This is in line with the decisions taken at Paris and Glasglow to target net-zero emissions by 2070, and the Government’s pledge to target Zero Emission by vehicles by 2040. Whilst the country is caught up in the throes of the third wave of the pandemic, the Finance Minister is expected to come up with provisions for the economic revival, after two consecutive years of unimaginable loss of lives and livelihood.
One such company looking at disrupting the traditional Power and Energy sector is Hygge Energy is committed towards creating a renewable energy trading and EV Charging marketplace for communities globally that will reduce energy prices for consumers, improve return for utilities, and increase RoI for Storage, Solar and other local generation owners. “The Union Budget 2022 is an opportunity to aggressively promote renewable energy driven rapid EV adoption as a mission. This is crucial for a cleaner environment and reducing India’s dependency on fossil fuel imports.
The goal of zero-emission e-mobility, powered by EV charging from renewable energy rooftop solar as well as wheeled energy requires a framework for harmonized pricing. This will open up a $7-8 billion carbon credit market for the EV ecosystem for deploying renewable energy sources for EV charging and reduction in tailpipe emissions and thereby drive rapid adoption”, said Atul Kunwar, Co-founder & Chairperson of Hygge Energy.
India’s leading provider of electric mobility and EV Charging solutions company, ETO Motors have also carried out several high-impact EV charging infrastructure projects across the country, installing almost 4000 MW of charging stations. ETO Motors have also been instrumental in accelerating the initiative of creating India’s first 100% Electric Vehicle City in Kevadia, Gujarat.
“The Union Budget 2022 must focus more on the institutional and mass adoption of EVs’, especially incentivizing fleet operators, logistics players and OEMs’ who are focused on commercial logistics application. The Indian EV sector is at a nascent stage but can be a fantastic combination of Auto and Electronics that contributes to almost 7% and 16% of the GDP. The Government should look at mandating all hyper local and last mile Ecommerce/non-Ecommerce deliveries through EVs’, rigorously deploying Carbon Credit system and encourage organization that pursue sustainable methods. Lastly, mandating Charging (slow/Infrastructure) to buildings and public places through amendment to law, and making land parcels easily available for charging station enthusiasts and business owners, will ensure that the development of the EV ecosystem is at full throttle”, said N.K. Rawal, Managing Director & CEO of ETO Motors.