The Green Vehicle - Seeker's Thoughts

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Seeker's Thoughts

A blog for the curious and the creative.

The Green Vehicle

The climate change remains a matter of worry. There was Paris deal in 2015 between 194 nations to bring down 2 degree Celsius global temperature. The change is never without troubles, and no matter how much good it will be there has to be negative consequences too. 

Need for it 
Electric vehicles will immensely support to bring down the global carbon foot print but at the same time, it will impact upon the Oil and Gas Industry In general.

However, to achieve emission target, the transport sector has be reinvented and changed because this transport sector emits 23% of the global greenhouse gas emission.  Both electric vehicle and hybrid vehicles are seen as silver lining.

Due to economic development, India has 19 out of 35 most polluted Cities in the world, and besides other factors- 50 percent of pollution arises due to vehicles.

Switching on to electric vehicles can help in reducing 1 Gigatonnes of Carbon-Di-Oxide. At present Electric vehicles have touched 1% of total global demand, and it has potential to grow by 40%. India borrows a huge amount of Petroleum and crude oil, this burden will be lessen as well

Reasons for growth:

Switching to EVs(Electric Vehicles) has been difficult task , however, it has been achieved due to following reasons.

1.      The prices of batteries have fallen and will continue to fall to make it affordable.

2.      Strong incentives are being provided by the governments so that EVs can grow.

3.      Lower tax rates and toll exemption further increased the sale of EVs.

4.      Personal efforts of government like FAME Scheme by Indian Government also promoted EVs. IN 2015 Indian government has also launched a scheme named as FAME- Faster adoption and manufacturing of (Hybrid) Electric vehicles under the National Electric Mission to promote sales of fuel efficient cars.

  Much has been done yet a lot more is needed. There are certain challenges which still hamper the growth of electric vehicles in the market, and those are written below-

Ø  Adequate Infrastructure should be facilitated by the government

Ø  Subsidies in form of domestic gas and LNG could slow down the demand of other petroleum products as well as Electric vehicles.

Ø  The government is planning to increase sale of vehicles by 2030, and hybrid vehicles can help in achieving it.

About the world:
 Governments in APAC (Asia-Pacific or Asia Pacific) region, mainly china, Japan and South Korea have developed electric vehicles. Their governments effectively supporting business plan and market consumption of electric vehicles, and there are many things other countries can learn from one another.