The battery will currently cost 35% of the vehicle's cost, but will drop to 20% in two years.
Electric vehicles are becoming more popular in order to cut pollution and vehicle costs per kilometre. According to the Society of Manufacturers of Electric Vehicles (SMEV), e-cars have increased approximately sixfold in the previous three years, while e-two-wheelers have increased nearly ninefold. The cost of the battery, which is around 35% of the vehicle's cost, remains the most difficult hurdle. However, its price has dropped by 90% in the previous nine years. There will be another 50% decline in the following two to three years. In two years, battery production will also begin in the nation.
The country's market for electric batteries will be worth $300 billion by 2030.
According to research conducted by NITI Aayog and Rocky Mountain Institute, the country's electric battery business would be worth $300 billion by 2030. Currently, the cost of batteries in electric cars is 35% higher. With technical advancements and a rise in the number of automobiles, this will fall to 16%. By 2030, the country will require 60 thousand metric tonnes of lithium. The NITI Aayog anticipates that all new two-wheelers sold in the country would be electric by 2025. "Battery prices have come down by 90 percent in 9-10 years," said Amitabh Kant, CEO of NITI Aayog.
By 2030, 30 percent of all cars in the country will be electric.
The price of batteries in certain automobiles has dropped by around $100 per kilowatt hour (kWh), however, the average price is approximately $139 per kWh. At the same time, Energy Minister RK Singh stated that the cost of an 1100 kWh battery in 2010 was $1100. It's now down to about a hundred bucks. By 2030, electric cars will account for 30% of total vehicle sales in the country. Vehicles account for 18% of all petroleum products consumed in the country. If the number of e-vehicles increases, the country's import bill will fall. According to the Economic Survey 2019-20, by 2030, the percentage of e-vehicles in private automobiles in the country would climb to 38%, commercial cars to 70%, buses to 40%, and two-wheelers and three-wheelers to 80%. It is possible to save 846 million tonnes of CO2 emissions and 474 million tonnes of oil. "The cost will come down as the number of vehicles rises," said Santosh Iyer, VP and Sales Marketing Head at Mercedes-Benz. Cars that operate on fuel or gasoline cost roughly five to six rupees per kilometre in the country. The cost of an e-vehicle is about Re 1 kilometre.
Obtaining a bank loan for an e-vehicle is similarly difficult.
According to SMEV Director Manu Sharma, the country has more than 150 enterprises that manufacture e-vehicles and their components. E-vehicles account for less than 1% of overall vehicle sales. At the same time, bank financing for e-vehicles is difficult to come by.
The price of an e-car in India ranges from 9.6 lakh to 1.03 crore rupees.
Currently, Mercedes-Benz, Tata Motors, MG Motors, Hyundai, and Mahindra manufacture electric vehicles in India. Other automobile models, with the exception of Mercedes' EQC, range in price from Rs 9.6 lakh to Rs 24.2 lakh. The EQC from Mercedes costs roughly 1.03 crores.
The government is encouraging electric vehicles.
• A total of Rs 31,600 crore would be allocated to battery production schemes between 2022 and 2030. A programme of Rs. 18,100 crores have been authorised for advanced cell chemistry batteries between 2022 and 2026.
• The Ministry of Heavy Industries has released expressions of interest for 1,544 highway charging stations. Approval for the installation of 2,636 charging stations in cities.
• Income tax exemption of up to Rs 1.5 lakh on loan interest on e-vehicle purchase before March 2023
• Hyderabad-based battery firm Roshan Energy has linked up with American battery company Beral Energy. The battery will begin producing in two years. Batteries will also be manufactured in other states, including Gujarat and Tamil Nadu. Companies will benefit from the production link scheme of the government.
The globe is riding an exhilarating wave of revolution in personal mobility. There is a strong emphasis on reducing emissions from fossil fuels, with intra-city personal mobility being the most apparent and practical area for improvement. After some scepticism about range anxiety and charging infrastructure, electric vehicles are selling in record numbers. Even at the lowest price point, the high initial cost of an EV is offset by cheap operating expenses, and it is progressively gaining a bigger percentage of customers. While the electric mobility business is doing an admirable job of ushering in a new era of green transportation and widespread adoption, there is no escaping the reality that the source still has a significant carbon impact. In other words, the electricity required to power/charge these electric cars are still derived from traditional sources, namely the combustion of fossil fuels. Today, coal accounts for more than half of India's electrical output.
Firms are constantly enhancing EV power storage capacity. Simultaneously, EV charging infrastructure is viewed as a significant potential, and rapid charging stations are sprouting up across metropolitan areas. The question of whether the EV is actually "green" is relevant at this point. Many charging stations are off-grid. The majority of India's grid power is supplied by coal-fired power plants. The promotion of solar power at all scales has resulted in a significant rise in its availability, and there may be sites where it may be used for EV charging, making it a genuinely 'green' offer.
To begin, one needs to realise that the Electric Vehicle Industry is a multi-disciplinary area that requires expertise from several engineering disciplines. Chemical engineers are more equipped to work on battery chemistry, but electrical engineers are better suited to choose the optimal motor for the vehicle. Professionals with cross-disciplinary knowledge in chemical engineering, electronics, embedded software, and electrical engineering will be in great demand. This is why Mechatronics Engineering, a multi-disciplinary field, is gaining traction in terms of employing new graduates for the EV business. A brief peek at job posts from several electric vehicle firms reveals that they are searching for engineers with expertise in a number of fields for positions in EV Safety, Software, Vehicle Motor Calibration, Power Electronics, and Machine Designs etc.
Through his or her course, an engineering graduate learns the fundamental ideas of several streams necessary to develop an electric vehicle. This section discusses how students may perform projects and obtain essential experience to establish a name for themselves in the EV business. Hands-on experience working on an engineering challenge linked to EVs can help a student attain the requisite fit for the industry. Students may obtain hands-on experience and ace the job selection process by doing the following:
Construct Projects — A modest project, such as developing an energy-efficient DC-DC converter for an EV application, might demonstrate a candidate's potential for the post of R&D engineer. Making a project necessitates an awareness of the overall vehicle design and allows students to fine-tune their conceptual knowledge.