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Mobilising electric Vehicle financing in India 

  • IASbaba
  • March 12, 2021
  • 0
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Mobilising electric Vehicle financing in India 

Part of: GS Prelims and GS – III – Technology; Environment 

In news

  • A new report ‘Mobilising Electric Vehicle Financing in India’ was recently released.
  • Released by: NITI Aayog and Rocky Mountain Institute (RMI) India 

Key takeaways 

  • It highlights the role of finance in India’s transition to electric vehicles (EVs). 
  • It has also analysed that the transition will require a capital investment of USD 266 billion in EVs, charging infrastructure, and batteries over the next decade.
  • Consumers currently face several challenges, such as high interest rates, high insurance rates, and low loan-to-value ratios.
  • 10 solutions have been identified to address these challenges.
  • Financial institutions such as banks and NBFCs, and the industry and government will be able to adopt solutions. 

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