ANNOUNCEMENTS
Given the world's limited supply of conventional fuel, a shift to clean energy is urgently required.. To address this concern, India has led the transition by announcing shift from the conventional ICE vehicles to the Electric Vehicles through various initiatives. To reaffirm its commitment, India has become one of the countries to become part of EV30@30 campaign which aims to have at least 30% of new vehicle sales to be electric by 2030.[1]
Central and State Governments have led the transition in the Electric Mobility sector through various interventions and policy initiatives. In this background, this study involves the quantification of the declared EV targets at the national and state level. For the national level quantification of targets, the study involves three cases: No COVID scenario with Moderate Growth Rate, No COVID scenario with High Growth Rate and Actual Real case scenario. At the state level, the study considers only the Actual real case scenario taking 2021 as the base year. The study projects the total number of electric vehicle sales till the specified target year, the vehicle growth rate required to achieve the projected sales growth using demand forecasting and regression analysis. The study lays down the pathway to achieve the declared target.
The current study also proposes a utility-led business model for deployment of e-buses in the state of Odisha. Odisha rolled out its policy in the year 2021. Even with the policy initiatives, the penetration of e-buses in the state of Odisha is zero.[2] (till May 17th ,2022). The study focuses upon this specific issue and proposes an e-bus deployment business model.
Keywords: Electric Vehicle, Electric Vehicle Policy, Demand Forecasting, EV business model, e-bus.
