(Video) Rajya Sabha TV (RSTV) Policy Watch: Electric Vehicle Financing

Topic: Electric Vehicle Financing

Expert Panel:

Randheer Singh, (Senior Specialist, E- Mobility, Niti Aayog)
Akshima Ghate, (Principal, RMI, India)

Topic Description:

NITI Aayog and Rocky Mountain Institute has released a new report ‘Mobilising Electric Vehicle Financing in India’, which highlights the role of finance in India’s transition to electric vehicles and analyses that the transition will require a cumulative capital investment of 19.7 lakh crore in EVs, charging infrastructure, and batteries over the next decade. India’s EV ecosystem has thus far focused on overcoming adoption hurdles associated with technology cost, infrastructure availability, and consumer behavior. Financing is the next critical barrier that needs to be addressed to accelerate India’s electric mobility transition. The report further determines that investment in India’s transition to electric mobility has the potential to create significant economic, social, and environmental benefits for the country. As the economics of EVs continue to improve, new business models and financing instruments gain acceptance, and government programs drive early adoption and promote domestic manufacturing, India’s EV market is poised for growth in the coming decade.