EVs Sold Through 2030 Can Save 474 Million Tonne Oil: NITI Aayog

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The NITI Aayog-RMI report further added that batteries have leverage over several of the most dynamic and growing sectors of India’s economy. 

Electric Vehicles (EVs) sold in India through 2030 can save 474 million tonnes of oil equivalent, worth Rs 15.2 lakh crore over their lifetime, according to a recent report by NITI Aayog and Rocky Mountain Institute (RMI).

“This would result in the net reduction of 14 Exajoules of energy and 846 mt of CO2 emissions over the deployed vehicles’ lifetime,” the report titled India’s Electric Mobility Transformation: Progress to Date and Future Opportunities noted.

It added that electric buses deployed through 2030 would account for 334 billion vehicle kilometers travelled over their lifetime. The report also said that in order to capture the potential opportunity in 2030, batteries must remain a key focal point in the present. 

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Batteries to play a crucial role
“Batteries will continue to be the key cost driver of EVs. This highlights the critical importance of India’s commitment to transformative mobility solutions and the market opportunity associated with domestic battery manufacturing,” it added. 

The NITI Aayog-RMI report further added that batteries have leverage over several of the most dynamic and growing sectors of India’s economy. 

It said that growth in India’s battery manufacturing ecosystem would create huge competitive advantages in mobility, consumer electronics, and support a stable and resilient electricity grid that can absorb increasing shares of renewable energy.

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