Technology transition from petroleum based vehicles to EVs: policy incentives

Abstract

For a long time, gasoline and diesel have been utilized as automobile fuels. However, the reduction in oil availability, volatile oil costs, and environmental damage encourage people to seek alternative sources of energy for vehicle fuel. Electrical energy alternatives for automobiles will reduce carbon emissions, reduce pollution, and generate greater energy at reduced costs. Transport accounts for around one-fifth of global CO₂ emissions, and out of this, 75% is caused by road vehicles. Instead of using Petrol or diesel as vehicle fuel, if we switch to Electricity as a vehicle fuel, we can reduce GHG emissions significantly. Also, EVs are much more economical than Petroleum vehicles in the Longer Run. Many new startups and Research organizations are working in this segment to make it more ef icient and viable for all the Population income-wise. To bring this Electric Revolution Government of India has launched various schemes and provided various Tax deductions. The primary issue is that even after the implementation of various policies to make people adopt EVs, they aren’t willing to shift to EVs swiftly. So, I conducted various ground-level surveys to find out the opinions of existing EV owners about the bottlenecks present in the current scenario and took views from them regarding what more policies or incentives could be taken by the Government to boost this Electric revolution. Keywords: Electric Vehicles, Greenhouse Gas Emissions, Policy-Making