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.
