Housing a substantial figure of more than 56% of the world’s population residing in the Asian region, the continent holds the potential for significant economic growth.
This adds considerable weight to the level of contribution needed to achieve decarbonization within global markets.
Hence the transition of an electrified fleet in the local market has become the prime goal of the majority of Asian governments.
Being described as one of the upcoming superpowers dominating the automotive industry, India has started taking a proactive approach to encourage the green shift and help companies develop a feasible ecosystem.
In India, electrifying the shared mobility space has become a key focus area in the adoption of electric vehicles (EVs).
The government is pushing EVs in Shared Mobility through various initiatives, including subsidies and tax benefits, to reduce the country’s dependence on fossil fuels and to curb air pollution.
One of the major drivers of adoption is EVs in Shared Mobility space that substantially covers two as well as four-wheelers including taxis, ride-hailing services, and car-sharing services.
Using these shared platforms, EVs in Shared Mobility space can help bring about a paradigm shift on a global scale by utilizing various modes of transportation, ranging from cars, mopeds, bikes, and scooters.
Individual mobility, micro-mobility, as well as multimodal mobility, can all be categorized under a single umbrella known as shared mobility platforms, and by 2025, a CAGR of about 25% is anticipated in this space.
These shared services are increasingly adopting EVs to reduce operating costs, improve environmental sustainability, and meet growing customer demand for eco-friendly transportation options.
Keeping this in mind, let’s take a look at the prospective repercussions of introducing EVs in Shared Mobility Space of India.
Influence of EVs in Shared Mobility Space
Decarbonizing road transportation can be considered one of the first step needed in achieving the Paris Agreement with battery electric vehicles (BEVs) being one of the main strategies considered to achieve carbon neutrality.
Plug Mobility is a prime example of one such company working on introducing EVs in Shared Mobility.
An EV initiative launched by Carzonrent, Plug has been continuously providing its shared services to its customers in more than 70+ cities.
Plug has also planned to induct a fleet of over 2500 EV cars under its EV initiative within the next 12 months in majority of cities to transition its existing customer contracts to EV fleet services.
It’s Electric Vehicle Mobility- as a Service -platform offers four-wheelers services to businesses, corporates, hotels, SMEs, airport staff and so on.
Taking another example, Ola, one of India’s largest ride-hailing companies, had also introduced a large-scale EV pilot program in several cities across India and plans to deploy thousands of EVs in the coming years.
The company has established partnerships with leading automakers, battery manufacturers, and charging infrastructure providers to make this transition possible.
Another notable instance is that of EVRE which offers EV fleets, charging+parking as a whole service, and on-the-go fast charging. This in turn solves the key range problem and enables a solution to the never-ending problem of finding a proper parking space to charge these EVs.
Similarly, Zoomcar, a car-sharing service, has also launched an EV fleet and plans to transition its entire fleet to EVs in Shared Mobility space.
The company has recognized the benefits of EVs, including lower operating costs, reduced maintenance requirements, and a positive impact on the environment.
Taking an aggressive approach with its policies and subsidies, Indian government is also supporting the complete induction of EVs in Shared Mobility through various government-based initiatives, that includes the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) scheme, that offers subsidies and incentives for the purchase and deployment of EVs.
The scheme covers a wide range of EVs, including two-wheelers, four-wheelers, and shared mobility vehicles, to encourage the adoption of clean transportation options.
In addition to these initiatives, the government is also investing in the development of charging infrastructure to support the growth of EVs in India. This includes the installation of charging stations in public areas and the creation of dedicated charging lanes for EVs on major highways.
Conclusion
In a nutshell, the introduction of EVs in Shared Mobility space has become a key focus area in India, wherein the government, as well as private companies, are working together to make this transition a reality.
The adoption of EVs in Shared Mobility space has the potential to significantly reduce the country’s dependence on fossil fuels, curb air pollution, and improve the quality of life for Indian citizens.