Electric Vehicles - EQMagPro

1Electric Vehicles: The Colour is Green

Electric VehiclesThe Colour is Green

2 Electric Vehicles: The Colour is Green


TITLE Electric Vehicles: The Colour is Green

YEAR July, 2018

AUTHORS Gaurav Kapur, Abhiraj Singh Parmar & Mohit Tyagi, YES Global Institute (YGI)

COPYRIGHT No part of this publication may be reproduced in any form by photo, photoprint, microfilm or any other means without the written permission of YES BANK Ltd.

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FOREWORD

With estimated market for electric mobility poised to touch US$390 billion globally by 2020, the new-age electric vehicle (EV) industry is set to transform the mobility ecosystem. Traditional automobile industries drive 62.3% of petroleum consumption globally and therefore, account for a substantial increase in carbon emissions worldwide. In order to transition into a low-carbon and sustainable economy, successful adoption of key growth drivers such as EVs and their subsequent technologies, innovative financing models and robust clean energy market are of vital importance.

India’s EV market share is still at a nascent stage (0.1%), as compared to market leaders like the US, China and Europe, who account for 50% of EVs bought globally. However, initiatives like the National Electric Mobility Mission Plan 2020 (NEMMP) with its estimated target of 6-7 million EVs by 2020 can certainly fast track India’s EV adoption to offset its carbon footprint.

Early adoption as well as creation of mobility technologies are expected to reduce India’s carbon emissions by 37% as well as transportation-based energy demand by 64%. By successfully leveraging clean technologies in the field of transportation and mobility, India is uniquely positioned to catapult the transition of its automobile sector from a traditional fossil fuel-based industry to a green and sustainable mobility-based future.

I firmly believe that achieving timely and profitable market penetration of EVs in India, adopting rapid technology and creating a strong regulatory framework is of vital importance to ensure successful transition. Furthermore, emphasis must be placed on establishing necessary electric mobility infrastructure (such as charging stations), providing fiscal incentives as well as strengthening market linkages (preferential measures for adopters and users of EVs).

I am confident that this YES Global Institute knowledge report, ‘Electric Vehicles – The Colour is Green’, will provide important insights and specific actionables for policy makers, industry players, the financial sector and all other key stakeholders to collectively accomplish this transformational shift to green mobility solutions in India.

Thank You,

Sincerely,

Rana Kapoor Managing Director & CEOChairman


Table of Contents

1 Introduction 11

1.1 Transitioning from a ‘fossil fuelled’ road to an 12 electric mobility future

2 The India Story 23

2.1. Government of India Vision & Impetus 24

2.2. Policy Framework for Electric Vehicle Support 28

2.3 EV Market Landscape 31

3 Electric Vehicle Industry Overview and Initiatives 33

4 Electric Vehicle Charging (EVC) Network 37

5 Battery: The Future Electric Vehicle Catalyst 43

6 Current Challenges of the EV Rollout 47

7 Innovative Business Models 51

7.1 Business Models 52

7.2 Financing Models 54

8 Policy Recommendations 57

9 Annexure 62


EXECUTIVE SUMMARY

FUTURE NOW - EVs - AGENDA 30x30

‘Clean, green and electric’, is the rallying cry, with global electric vehicle sales surpassing the 1 million unit mark. India’s mobility sector is one of the fastest growing in the world and 98% of this sector’s energy demand is still being met through oil imports, which is clearly not sustainable in the long run, neither economically nor environmentally. Transitioning towards an electric and connected future, will not only reduce the current account deficit through lowered dependencies on crude oil imports but also reduce India’s carbon footprint and raise the overall air quality.

This report titled “Electric vehicle - The colour is green”, focuses on paving the way from a policy perspective, which may lead to a transformative ecosystem, changing gears and making the shift from traditional dependencies on Internal Combustion Engines (ICE) to a more sustainable, low carbon, electric mobility based future. It highlights the rapid evolution in global policy agendas by market leaders in the field of electric mobility, who are transitioning from conventional technologies to new age smart mobility solutions.

This report focuses on key recommendations in order to build momentum for electric vehicle adoption. It also highlights various business and financial models that can be implemented in order to successfully scale up electric vehicles. This report lays further emphasis on establishing electric mobility infrastructure, providing fiscal and non-fiscal incentives to the entire EV ecosystem, innovative business models as well as strengthening market linkages in this industry.

The report also proposes an EV roadmap with a call to action, through Agenda 30x30 which will focus on a total 30% adoption of electric vehicles, across all segments by 2030. This roadmap focuses on recommendations after assessing the policy landscape as well as use cases both globally and domestically. The uniqueness of the approach lies in a way forward, which is relevant from a developing country, emerging economy perspective.

Lastly, this report is an opportunity for all players involved in the EV value chain, from policy makers to on-ground executors to study and adopt the best policies and use cases in the world to catalyze India’s latent potential in the EV space in order to generate both economic value as well as sustainable growth. For India to pave the path from a ‘fossil fueled road’ to a Green Future, one must identify the hurdles, propose solutions, and then propel the drivers of growth to deliver, ”Future Now”, innovations in the field of electric mobility. The future is electric. The future is now.

Let’s pledge our support for a greener tomorrow translating our MD & CEO, Mr. Rana Kapoor’s vision of a thoroughly connected, globally networked and Greener, Cleaner, India First strategy.

Dr. Subi Chaturvedi President YES Global Institute, YES BANK LTD.


InTroduCTIonChapTer 1


1.1 Transitioning from a ‘fossil fuelled’ road to an electric mobility future

With 62.3 % of global petroleum consumption being driven by transportation1, the sector has emerged as a major contributor to carbon emissions, fuelling the looming threat of global warming. This has raised an ardent need to ‘de-carbonize’ the automobile sector and catalyze the future of transportation by leveraging innovative clean technologies, such as hydrogen fuel cells, bio fuels and electric vehicles.

From a technology perspective, the traditional internal combustion engine (ICE) has been the dominant automotive powerhouse, however the industry is now embarking on a transformational journey to ecologically modernize the industry and diversify its portfolio in the direction of clean energy solutions.

Globally, India is the 5th largest passenger vehicle market in terms of sales, behind nations like China, USA, Japan and Germany. Further, the automobile industry contributes 7.1% of country’s GDP, with passenger vehicle accounting for 14% market share.2

Introduction

Ranking CountrySales of Passenger

Vehicles (2017)1. China 28,271,791

2. USA 17,237,702

3. Japan 5,090,408

4. Germany 3,700,758

5. India 3,223,4293

Source: https://focus2move.com/world-car-market/


By incorporating, rapidly evolving technologies and business models for delivering mobility including the emergence of Electric Vehicles (EVs), India has the potential to radically transform its transportation sector to a shared, electric and connected one. In this ‘road to revolution,’ we are witnessing conventional hybrids (HEVs) slowly gaining a foothold in the automobile market.

India’s electric vision aims to electrify more than 30% of vehicles by 2030. In an optimum 100% electrification scenario it has been projected that mobility related energy demands and carbon emission levels can be reduced by up to 64% and 30% respectively. With a significant portion of the fleet running on electricity, it would have a positive impact on environment and public health, as it will lead to lower emissions.

From an economic perspective, transitioning to a fully electric future can potentially reduce 156 Mtoe in diesel and petrol consumption, resulting in ~USD 60 Bn worth of savings by 20304.

Further, by investing in core infrastructure components of Electric Vehicles such as battery technology and giga factories, India can gain a foothold as a market leader and create a potential ~USD 300 Bn domestic market5. This approach has significant implications for India’s electricity sector and economy; supporting India’s ambitious renewable energy goals while reducing costs, creating jobs, and strengthening the Indian industry.

Source: RMI India Report

NITI Aayog's full 100%

electrification scenario

projections by 2030

Energy DemandsReduced by 64%

Reducing 156 Mtoe of Petrol

and DieselSaves the economy $ 60 Bn

Carbon EmissionReduced by 30%


Electric Vehicle Sales (BEV & PHEV) 2017

CHINA

579,000

United States

198,350

France118,770

Norway

62,260

Germany

54,560

United Kingdom

47,250

Australia

2,280

India

2,000

6Brazil 360

198,350

54,100

Japan

Global Snippets:Increasing urbanization, global efforts to curtail emissions and rapid technology innovations are the prime push factors for the rapidly increasing global EV market. A strong regulatory and incentive support by Government, effectuated via distinct policies, has been a strong booster for the industry. For ex. in Germany, the Government has offered monetary incentives (~EUR 4,000 subsidy) and tax credits (exemption from motor vehicle taxes for ten years). In USA, California Air Resources Board (CARB) has stipulated - “any automaker with annual sales greater than 60,000 vehicles, at least 14% of the vehicles they produce and deliver for sale in California must meet ZEV (zero emission vehicle) requirements”.7 This ZEV standard has also been adopted by another ten states in USA. CARB is also taking a leading role in setting stringent fuel economy standards, independent of the federal-level requirements issued by the Environmental Protection Agency (EPA).

Few cities (ex. Berlin) have created “green zones,” where drivers of higher-emission vehicles are forced to pay steep fines, if they enter these zones. When temporary driving restrictions occur in cities like Beijing to combat air pollution, EV drivers are exempt and can drive freely, generating more interest, in EVs.

Governments across the globe are tightening emission norms amid growing concerns around pollution and climate change. In India, tougher emission norms by 2020 should make diesel and petrol engines pricier and non-polluting EVs relatively more attractive. Norway, through a slew of financial and non-financial incentives, leads the world in per capita EVs. It has over 500,000 EVs on the road, with EVs comprising 40% of newly registered passenger cars in the year 2016.8

Source: International Energy Agency


EV penetration is correlated with a variety of supporting policies and activities. The major drivers for EV push across the globe include:

EV Adoption Drivers

A recent McKinsey report estimated that EVC installations (public and private) to grow from ~2 million in 2016 to over 12 million in 2020.9 As per the report, markets like the US and Germany have seen the ratio of EVs versus public charging stations decreasing slightly (e.g., the US went from 12.4 EVs per charging station in 2015 to 13.2 in 2016), but anticipates it to improve soon on the back of many new investments announced. In the US, automakers may invest billions of dollars in new charging infrastructure over the next ten years, while in Europe, a group of premium and mass market automakers will work together to install numerous fast-charge points. In China, national Government investments increased the total number of charging poles to ~110,000 in 2015 (50% are public), up from only ~8,000 poles in 2011.

Countries with higher EV penetration often address the consumer barriers of cost with incentives, convenience with extensive charging infrastructure, and consumer awareness with promotional campaigns. At the same time, these markets’ policy actions are tailored to unique

Preferential Treatments

EVC Network

R&D and Promotions

• Access to car-pool lanes, low emission zones, congestion areas• Preferential / On-tap registrations

• Incentivize construction of private EVC• Rollout of EVC network by Government Instrumentalities

• Electrification of city local transport and taxi fleets• Focus R&D - range anxiety, battery module, new technologies etc

Purchase Incentives

Operational Incentives

• Upfront purchase subsidy / Income tax rebates• Tax / Fee exemptions; may vary across models depending on range,

battery capacity, tail pipe emissions etc

• Toll / annual tax rebates• Preferential electricity rates


local conditions, for example, to their geography (e.g., waiving tunnel tolls in Norway), city layout (e.g., congestion zones in London, carpool lanes in Los Angeles), and incentive options (e.g., tax exemption in Europe), or vehicle licensing policies (e.g., exemption from registration lotteries in Beijing and Shanghai). A brief of the global policy initiatives by different countries/cities to promote EVs, is captured below and summarized in Annexure.

China

Electric car sales increased by three times in China in 2015 crossing 200,000 units (~35% of global sales) and accounted for almost 1% of all new passenger vehicles sold in China in that year. With restrictions on conventional 2-wheelers in several cities and Government push towards electric bus, China is already a clear leader in both segments globally. In the year 2015, China accounted for ~98% global electric bus fleet with battery electric buses being ~88% of the total Chinese fleet.10

The Chinese government provides support upto $8000 in order to incentivize consumers to purchase EVs and develop the ecosystem. From a policy perspective in order to catalyze the EV market, the government is also launching a New Energy Vehicle credit system or a New Energy Vehicle carbon quota system. China’s state owned electric utility State Grid Corporation is working to build national networks of fast charging stations with the target of ‘having at least one charging station per every 2,000 EV and by 2020 achieving a charging infrastructure to support 5 million electric vehicles’.11

Cities like Shanghai, Shenzhen, and Beijing accounted for approximately 41% of all electric vehicle sales in China in 2015.

1.5.1 Shanghai and Beijing

Components of FAME

Shanghai Beijing

Purchase & Operational Incentives

• Federal subsidies up to 54,000 CNY and tax exemptions

• Local subsidies of up to 30,000 CNY

• Federal subsidy of up to 54,000 CNY and tax exemptions

• Range based Local subsidies for BEV from 20,000-44,000 CNY in 2017

• Electric taxis exempt from fuel tax + Local subsidies of up to 50,000 CNY

• Local subsidies of 300,000-500,000 CNY for BEV buses

Preferential Treatment

• Subsidies for a reserved parking space in Jiading District

• Exempt from traffic restrictions Separate license plate quota for

electric vehicles, exempt from lottery


USA

USA is the second most crucial national market that accounted for about a quarter of the global electric vehicle sales in the year 2015. This represented only ~0.7% of the total light-duty vehicle sales in USA, indicating a huge potential market for EVs.

Components of FAME

Shanghai Beijing

EVC Network • 21,700 charging points (16,500 private, 3,200 company, 800 bus & logistic vehicle). ~3,513 public charge points

• Up to 30% grant for the installation of charging infrastructure (expired in 2014)

• 30% capital subsidy for businesses to establish special and public charging infrastructure, integrated PV charging infrastructure, and new charging technology (until 2020)

• Goal to build 210,000 charging points by 2020. Government plans to build 28,000 public charging points (at least 1:7 ratio of public charging points to EVs) by 2020

• 21,000 charge points (3,700 for special use, e.g. buses; 12,000 for private use). ~6,789 publica charge points

• State Grid Corp. constructing network of fast charging stations

• Upper limit on public charging rate of 15% of 1L gasoline market rate per kWh

R&D and Promotions

• Jiading District EV Demonstration Zone

• EVCARD - China’s first electric car sharing service

• Electric buses and taxis are given priority to operate in the city

• Pure electric public buses received a 165,000 CNY operation subsidy annually from 2013 to 2015

• Commercial vehicle passing permits to allow purely electric commercial vehicles to operate in urban areas

• Consumer awareness campaign: “Electric Vehicle into Community”

• New Energy Vehicle Experience Center - insights & test drive EVs

• Multiple EV test drive events

• LeShare electric car sharing service

Source: www.theicct.org


USA offers federal tax credits of up to $7,500 for the purchase of new EV, vehicle efficiency standards through 2025 with explicit incentives for EVs, funding for public charging infrastructure, and a program to encourage workplace charging infrastructure deployment. ‘EV Everywhere’, an initiative by U.S. Department of Energy, combines R&D, outreach, and education as outreach pillars to make EV cost competitive and as convenient as conventional vehicles by 2022. In addition, many states and cities offer additional consumer fiscal rebates, access to high-occupancy vehicle lanes, exemptions from fees, and preferential parking, among many different actions.

For eg: Zero Emission Vehicle regulation by the state of California requiring greater EV penetration over time (up to 15% of new vehicle sales by 2025) has greatly increased EV model availability in the state.

The EV penetration was highly skewed with Seattle, Washington, Portland, Oregon, Atlanta, Georgia, Honolulu, Hawaii and many cities of California having over 2% electric vehicle sales shares in 2015. These high EV uptake markets tended to have a combination of vehicle and fuel policy, state consumer incentives, local support actions, more extensive public charging infrastructure, and utility actions in place to support EVs.

San Jose, San Francisco, and Los Angeles together accounted for ~40% of all EV sales in USA in year 2015. With over 23,000 new electric vehicles in 2015, Los Angeles had highest EV sales among metropolitan areas in USA and ~ 3% EV share, almost quadruple than the national average. Besides federal and state policies promoting EVs, Los Angeles has a variety of local promotions too, including access to high-occupancy vehicle highway lanes, city-owned charging network, multiple city-level outreach programs and affirmative use of EVs in city, police, and private car-sharing fleets. It has also enacted an EV-ready building code requirement whereby new buildings are equipped to enable charging infrastructure.

Los Angeles has an extensive public charging infrastructure network (with about 2.5 times the charge points per capita of the U.S. average) and has major utility supported pilot plan to deploy $22 million in EV public charging infrastructure. The local utilities also offer many supportive actions including lower EV charging rates, consumer information, home charger incentives, and extensive research into smart charging programs.12

Los Angeles (California, USA)


• Federal tax credit up to $7,500 per EV

• State rebate up to $2,500 per EV

• Preferential utility EV charging ratePreferential Treatment • City parking benefit

• Preferential access to high-occupancy vehicle lanesEVC Network • 3,473 charge points and 226 fast charge points

• Low-carbon fuel regulation

• State private charging infrastructure incentives

• EV-ready building codes

• Streamlined local charging permitting process


United Kingdom

With around 2.5 million registrations in 2014, the United Kingdom is the second-largest car market in Europe and accounts for roughly one fifth of new cars registered in the EU. ~ GBP 600 mn has been allocated for the uptake of ultra-low emission vehicles between 2015 and 2020, focusing on incentivizing the uptake of EVs, investments in charging infrastructure and supporting national EV technology innovation. Government’s strategic plan for electric mobility projects, is that EVs should account for atleast 5% of car registrations by 2020.

Financial incentives to EVs are provided broadly under three policies - Plug-in Car Grant, CO2 based annual ownership taxes, and reduced taxes on the private use of company cars with low CO2 emissions. Cars with CO2 emissions of up to 100 g/km are exempt from Annual ownership taxes (Vehicle Excise Duty).

Go Ultra Low City was introduced to promote EVs. London received GBP 15 million from the UK Government as part of this program with the goal of having 2,50,000 ultra-low emission vehicles by 2025. Multiple initiatives have been launched, including the ongoing electrification of the taxi and bus fleets; the creation of an Ultra-Low Emission Zone in the city center beginning 2020; and planning requirements for charge point’s at all new developments.

R&D and Promotions • State manufacturing incentive.

• City information materials and events. City outreach and awareness events - “Drive the Dream” “Best Ride Ever” and “National Drive Electric Week”

• State and city EV fleet programs. Growing municipal and police EV fleets

• Electric car sharing program

London (United Kingdom)Purchase & Operational Incentives

• Federal purchase grant of up to GBP 4,500

• Exemption from annual circulation tax

• GBP 3,000 pounds (additional Federal grant) for zero emission taxi (mid-2017-2020)

• Exemption from congestion chargesPreferential Treatment • Free or reduced parking costs in some boroughs

• Central Ultra Low Emission Zone planned for introduction by 2020 (revised start of 2019 under consideration)

EVC Network • 1,652 charge points and 134 fast charge points

• City-wide network accessible for small annual fee

• Charging point planning requirements for all new developments

R&D and Promotions • UK Power Networks grid assessment and demand response trials

• Go Ultra Low “Neighborhoods of Future” & national communications project



London (United Kingdom)Transit and Fleets • Electrification of bus routes

• All single-deck buses to be ZEV by 2020; All new taxis to be ZEV capable by 2018

• LoCITY program to encourage cleaner commercial vehicles

DenmarkDenmark aims to achieve complete independence from fossil fuels by 2050 and has exempted electric cars from the green tax, additional car taxes, and, vehicle registration fees (till 2015). Starting 2016, the registration taxes shall be incrementally charged with full taxes (150% the value of the car) being implemented from 2020. This resulted in increase in Q-o-Q sales in Q4CY2015 by 280%. With ~5000 units, EVs accounted for ~2.3% of the total vehicle sales in 2015.

Other incentives to promote EVs include free parking in certain cities, tax exemptions on electricity for EV operators, subsidies for businesses and municipalities for the purchase of EVs, and tax discounts for the installation of charging stations up to 4,000 kroner. Until the end of 2015, the Danish Energy Agency (DEA) administrated extensive funding, at a level of 30 million kroner ($4.4 million) in 2015, for projects to familiarize companies, public bodies, and private consumers with EVs, support charging infrastructure, and develop relevant partnerships.13

Copenhagen, the capital of Denmark, accounted for ~60% of Denmark’s electric vehicle sales. In 2009, Copenhagen was amongst the first to release an extensive climate plan with target to become the world’s first carbon neutral capital by year 2025.

Copenhagen (Denmark)Purchase & Operational Incentives

• Partial exempt from vehicle registration taxes until 2020• Exempt from annual car tax + Tax refunds on electricity used to charge EV

Preferential Treatment

• Designated free parking

EVC Network • 850 total charge points and 60 fast charge points• By 2025: 500-1,000 public charging stations and 5,000 restricted public

access charging stations• Tax rebate up to 18,000 DKK ($2,646) for the installation of a home charger

R&D and Promotions

• “Meet the electric vehicle” – 12-day trial for businesses to test EVs• “Rent an electric vehicle” – corporate employees can rent EV for two weeks • Financial subsidies for builders and tradesman purchasing electric vans • “Vehicle X” – using EV to charge and operate tools and equipment• Two electric buses at Airport to gain practical experience with electric buses• Since 2011, Municipality purchasing only zero emission vehicles. • 85% of Government vehicles must be zero emission by 2015• Starting 2019, entire bus fleet to be replaced by electric buses • DriveNow – car sharing service with a fleet of 400 BMW i3’s




Norway

Norway, a forerunner in the field of electric mobility, has cars as most reliant transport mode in wake of relatively low population density and the limited rail network. Most of the electricity is generated from hydropower, whereby transition to EV can significantly reduce carbon emissions. EVs have a distinguishable registration plate with ‘EL’ as a prefix.

Norway has one of world’s most generous program of electric vehicle incentives. Among the benefits are exemption from the 25% VAT on purchase or leasing, no import or purchase taxes, no charges on tolls or ferries, low annual road tax, 50% reduced company car tax, no fuel taxes for hydrogen or electricity, free access to bus lanes, free municipal parking, and free charging station use. In addition, the Government is financing at least two multi-standard charging stations every 50 km on all main roads in Norway to allow for long distance trips using electric vehicles.

Oslo, with highest EV share of any major metropolitan area in the world, accounts for ~40% of EV sold in Norway in 2015. It plans to be climate neutral by 2050.

Oslo (Norway)


• No purchase or import taxes

• Exemption on 25% VAT on purchases/ leases; 50% reduction on company car taxes

• Low annual road taxes; Exempt from road and ferry tolls

• No fuel taxes for electricity or hydrogen

• Free electricity for normal charging; Discounted quick- and semi-quick charging for prioritized vehicles (Electric Taxis and Electric Freight Vehicles)

Preferential Treatment • Access to Bus lanes and low-emission zones

• Parking garages (2) for EV

EVC Network • 2,973 total charge points; 161 fast charge points

• Grants for up to 60% (upto 10,000 kroner) on installation of additional charging point

• 200 new charging points per year from 2013; 1,200 total by of the end of 2016, and 200 new ones in 2017

• Dedicated quick and semi-quick charging stations for Electric-TaxisR&D and Promotions • Zero emissions municipality fleet and public transportation by 2020

• Green purchase of transport services

• Special large parking



The IndIa SToryChapTer 2


2.1 Government of India (GoI) Vision and ImpetusAlthough, India’s EV market is at very nascent stage as of now (0.1% global market share) as compared to the US, Europe and China (50% market share)14, a transformation is anticipated for India’s EV industry with a major thrust driven by the Government. To boost the manufacturing of hybrid and electric vehicles in India, the Faster Adoption and Manufacturing of Hybrid and Electric vehicles (FAME) scheme under the National Electric Mobility Mission Plan (NEMMP), aims to achieve sales of up to ~ 7 Million EV’s by 2020. This push will be focused on 4 key pillars15:

India is uniquely positioned to take advantage of the global technological developments in the EV landscape. In order to lay a supportive foundation for the EV ecosystem, leveraging supportive policies as well as integrating smart urban design infrastructure, will be a vital first step.

Initiation of a few pilot projects in key geographies, can result in important takeaways about system integration to prepare the nation for scaling and deploying integrated solutions. With a shared, electric, and connected mobility system the long term vision of India, new age xEV technologies (i.e., EVs, including hybrids, or HEVs, and plug-in hybrid electric vehicles, or PHEVs) can play important roles towards embarking India on the path of sustainable and green economic growth.

echnology and Innovation

arket linkages through demand creation

ilot testing and projects

harging infrastructure to build awareness and promote usage of EV

T

M

P

C

The India Story


The GoI Green Push InitiativesIn order for India to rise as a ‘green leader’ and became a nation of EVs, the Government has been proactively working by considering various policy measures to stimulate EV demand in the domestic market in order to create strong forward and backward linkages through:

• Funding of R&D Costs: With the aim of reducing overall carbon emissions, the Government of India will focus on developing low-cost, electric technology powering commercial vehicles, three wheelers and two wheelers operating in public areas. In order to leverage this technology, up to 60% of this research and development (R&D) cost will be funded by the Government.16

• The scheme focus on six areas: lithium battery technology, motors and drives, charging infrastructure, drive cycle and traffic patterns light-weighting of xEVs. At present, all critical components such as battery, motor and motor controllers, used in electric vehicles are mostly imported, which often makes the costs prohibitive.

Furthermore, transitioning to this low carbon, smart mobility solution would result in direct and indirect value creation such as future employment opportunities, reduced dependencies on fossil fuels such as petrol and diesel, thereby reducing the carbon footprint and improved public health amongst others.

The 'LED' moment for India's EV Industry

Reduced dependenceon Oil & Gas

Clean and cost effective mobility services

Job creation opportunities

Improved public health


The project will be undertaken under the Technology Platform for Electric Mobility (TPEM) – a joint initiative of the departments of Heavy Industry (DHI) and Science and Technology (DST).17

• Electric Mass Mobility Ecosystem in Nagpur: Nagpur has become India’s first city with an electric fleet of 200 electric vehicles (including 100 of Mahindra’s e20 plus) consisting of taxis, buses, e-rickshaw and autos. The Government has further waived off the registration fees for all electric vehicles in the state, and aims to emulate Maharashtra as a model state for others. Furthermore, India’s very own taxi aggregator Ola has invested ~ INR 50 crores towards EVs and charging infrastructure with an initial installation of 50 plus charging points across four strategic locations in Nagpur.18

• The “Air Ambience Fund”: This fund managed by the Delhi Pollution Control Committee is funded by a cess collected on the sale of diesel fuel (25 paisa on every litre of diesel sold). It is being used to provide subsidies to those purchasing electric vehicles, battery operated scooters as well as other green projects.19

• Voluntary Vehicle Fleet Modernization Programme (V-VMP): The Ministry of Road, Transport and Highways has proposed the Voluntary Fleet Modernization Programme (V-VMP) with the long term aim to slowly phase out older diesel vehicles (a major cause of pollution) and to roll out electric and hybrid vehicles in the next three years.20 Under this initiative, vehicle owners who wish to scrap their old vehicles will receive monetary incentives, allowing them to purchase a new vehicle through three different methods: (1) scrap value from old vehicle (2) automobile manufacturers’ special discount and (3) tax exemption.

Key Focus Areas for R & D

Motors and Drives

Lithium Battery

TechnologyUltracapacitor

Drive cycle and traffic

pattern

Light weightof EVs

Charging Infrastructure


• No Permit requirement for Commercial EV: In a bid to incentivize the penetration of EV’s in commercial fleets, the Ministry of Road, Transport and Highways is working on a proposal to remove permit requirements for commercial EV including taxis, auto rickshaws, and buses. The ministry has already set a similar model by allowing e-rickshaws to ply without a permit, although they have to be registered and must meet minimum safety requirement.

• EV and GST: Under the GST regime, the Government has reduced the tax to 12% from previous 20.5% (6% Excise + 14.5% VAT). In comparison, fossil fueled cars would be taxed under the slab of 28% + cess (based upon the size, capacity and engine of the car)21

Voluntary Vehicle Fleet Modernization Programme(V-VMP)

Scrap Value from old vehicle

Automobile manufacturers

special discount

Tax exemptions

-M

P m

e

VV

Sche


2.2 Policy Framework for Supporting India’s EV Initiative

India's EV 2020 policy roadmap

2010

2013

2014

2015

2017

2020

2030

2016

Initial push from MNRE for EV

MNRE introduced 20% financial incentive on electric scooters and cars

GoI launched NEMMP 2020National Electric Mission mobility Plan launched in 2013 to promote hybrid and electric vehicles in order to achieve fuel security

Electric Vehicle Initiative

India joined the Electric Vehicles Initiative in 2014 which is an international forum

GoI launched FAMEFaster Adoption and Manufacturing of (Hybrid and) Electric Vehicles (FAME) scheme was launched to incentivize and promote the production and purchase of electric vehicles

Phase – I of FAME

Kicked off from FY 16-17 with an initial outlay of INR 7.5 Bn

Make in Karnataka InitiativeIn 2017, Karnataka rose as the first state to have an EV and energy storage policy

Target 2020

GoI plans to have 6-7 Million Electric and hybrid vehicles on Indian roads by 2020

under FAME

Vision 2030Soft vision of 100% electrification for private and fleet vehicles


• In 2010, EV mobility in India, received its initial push when the Ministry for New and Renewable Energy (MNRE) introduced a 20% financial incentive on ex-factory prices of electric cars and scooters in 2010, resulting in a spike in consumer uptake especially in the e-bikes segment.

• In 2013, the National Electric Mobility Mission Plan (NEMMP) was launched, which envisioned bringing about a transformational paradigm shift in the automobile and transportation industry. The policy aimed at an increase in electric and hybrid vehicles to about 6-7 million units by 2020 by leveraging different policy-levers such as:

- Demand Side incentives to facilitate acquisition of hybrid/electric vehicles

- Promoting R&D in technology related to the EV segment

- Promotion and creation of smart design charging infrastructure

- Supply side incentives

• In 2014, India joined Electric Vehicles Initiative (EVI), an international forum that seeks to facilitate the global deployment of 20 million EVs, including plug-in hybrid electric vehicles and fuel cell vehicles, by 2020.22

• In 2015, Faster Adoption & Manufacturing of Hybrid & Electric Vehicles (FAME) was introduced for implementation over a six-year period till 2020. This scheme envisioned to sell 6-7 Mn hybrids and EVs annually by supporting the EV market development and manufacturing eco-system to achieve self-sustenance. The program would receive further impetus as part of the ‘Make in India’ initiative and would focus on four main areas - technology development, demand creation, pilot projects and charging infrastructure.

• Phase I of the FAME scheme is already in motion with an approved outlay of INR 7.95 bn.23 The scheme has led to over 148 thousand xEVs receiving 1.92 Bn in incentives resulting in a substantial decrease in CO2 emissions by over 33 million tonnes along with fuel savings of up to 13 million litres.24

Components of FAME FY-2016 (million) FY-2017 (million)

Technology (+testing Infra) 700 1200

Demand Infrastructure 1550 3400

Charging Infrastructure 100 200

Pilot Projects 200 500

IEC / Operations 50 50

TOTAL (INR million) 2600 5350

Cumulative TOTAL INR 7.95 billion25

Source: pib.nic.in


• The higher upfront cost is a major hurdle for EV penetration in the domestic market. The FAME scheme provides an upfront purchase subsidy to selected EV models manufactured in India. Further, the Indian Government offers incentives of up to Rs 29,000 for e-bikes and Rs 1.38 lakh for e-cars under the FAME India scheme26. The incentives across various segments are outlined in the table below:

• In 2017, Karnataka became the first state to rollout Electric Vehicle and an Energy Storage Policy, with the vision to make the state a hub for the production of alternative fuel vehicles, and push the ‘Make in Karnataka’ initiative.

Vehicle Segment

Mid Hybrid Strong Hybrid Plug-In-Hybrid Battery EV

2-wheelers 1,800 – 6,200 13,000 – 18,000 7,500 – 29,000

3-wheelers 3,300 – 7,800 25,000 – 46,000 11,000 – 61,000

Passenger Cars

11,000 – 24,000 59,000 – 71,000 98,000 – 1,18,000 76,000 – 1,38,000

Light CV 17,000 – 23,000 52,000 – 62,000 73,000 – 1,25,000 1,02,000 – 1,87,000

Buses 30,00,000 – 41,00,000 51,00,000 – 66,00,000

Karnataka Electric Vehicle & Energy Storage Policy The Policy aims to-

• Reduce –

- Dependency on fossil fuels

- Overall level of carbon emissions

• Create direct and indirect value –

- Attract investments worth $4.83 Bn (INR 31K Cr)

- Generate 55,000 employment opportunities for the local economy.27

• Establish necessary infrastructure –

- EV manufacturing zones

- Charging stations in places with high footfalls such as airports, railway stations, residential complexes and IT parks and business centers to name a few.

• Catalyze the startup ecosystem-

- Develop business models focused on supporting economic applications around EVs, such as batteries, design schematics, charging technologies etc.

• Collaborate –

- Bring together energy players and Governmental bodies in order to build a cohesive and actionable strategy to implement the adoption and creation of necessary charging infrastructure throughout the state.

Source: Economic Times


2.3 EV Market Landscape

2.3.1 Global Picture

The electric vehicle sector has recently witnessed a surge in adoption of EVs, with increasing awareness and policy impetus behind the push. There has been a global revolution and a need to adopt environmentally focused best practices for transportation. With over ~750,000 units of electric cars registered in the year 2016, a new record has been set in the global electric car stock which has exceeded two million vehicles, 42% higher than 2015. Norway had the most successful deployment of electric cars in terms of market share, at 29%, while China became the largest electric car market in 2016, accounting for 45% of the electric cars sold globally28.

Globally, around 95% electric car sales happen in just a few countries—China, United States, Norway, United Kingdom, France, Germany, Netherlands, Sweden, Japan and Canada. These countries via strong policy impetus and incentives have been able to lay the foundation of an enabling EV market in their domestic markets.

2.3.2 India Picture

The focus of the government is vital in order to accelerate the Electric vehicle push in India. As per National Automotive Board, there are a total of over 2 lakh electric vehicles on roads in India currently leading to 28 Mn liters of fuel savings and 1.1 lakh Kg of CO2 reduction per day.29 EV sales in India grew by 37.5% in FY-2016 to 22,000 units against 16,000 units in last fiscal. Of these, only 2,000 units were four-wheelers.30 India is currently at a junction, where a massive volume of incentives and subsidies will need to be injected along the entire EV value chain in order to stimulate demand and supply forces to hit the target of ~6-7 Mn EV on Indians roads.

Two-Wheeler Market

The two-wheeler market in India lags behind its counterpart in China, the global leader in electric two-wheeler manufacturing and usage. Indian 2-wheel EVs are more comparable in design to compete with the performance of bulkier gasoline-powered conventional scooters

Snippets from the Global Stage

• France has announced that they will ban sales of petrol and diesel cars starting 2040

• The United Kingdom (UK) envisions that by 2040, all cars on domestic roads shall be electric or low emission vehicles

• Netherlands is looking at 2025 as the year for banning diesel and petrol vehicles

• Norway, a green leader when it comes to adopting zero-emission policy with one in every three cars sold being electric, has announced that all passenger cars and vans sold will be zero-emission vehicles in 2025.

• Certain federal states in Germany are looking at a complete ban on diesel and petrol automobiles by 2030


prevalent in the domestic market, while Chinese regulations promote low-weight, low-power, low-speed design, with a view towards passenger safety and reduced environmental impact. A brief comparison of both the markets is, as below:

The time has now arrived for EVs to become mainstream, and there needs to be active engagement between the Governments (Central & State), Municipal Bodies, and private players to setup robust EV ecosystem and develop next gen EV technologies and products to cater to the futuristic smart cities.

With the country aiming for a transformation by 2030, India is all set to catapult itself into a cleaner future. At optimum adoption levels, a full scale transition to EV could potentially reduce India’s oil demand by around $60 billion, emissions by 37%, and road infrastructure demands over the next 13 years.31

Parameters Indian Market China Market

Weight >85 kg < 60 kg

Speed 25 kmph to 55 kmph < 40 kmph

Power 250 W to 1,500 W < 500 W

Battery Type Lead Acid Lead Acid

Annual Sales Less than 20,000 units (FY2016) ~ 35 million units (2012)


eleCTrIC VehICle InduSTry oVerVIew and InITIaTIVeS

ChapTer 3


electric Vehicle Industry overview and Init iatives• Mahindra & Mahindra: India’s pioneer in the electric car segment has recently committed

INR 600 crores to its electric vehicle arm, and plans to diversify its portfolio, which presently comprises of two hatchbacks, the e2o and e2o Plus, a sedan, the eVERITO, the eSupro van and a three-wheeler, the e-Alfa Mini32. Over the next three to five years, the company plans to accelerate production of its e-Alfa Mini and also focus on mass urban mobility solutions with the launch of a 32-seater bus. Mahindra is also looking to tap the potential of the two wheeler market by introducing GenZe electric two wheeler brand in the country, currently only sold in US markets.

• Suzuki Motors: The Japanese parent of Maruti India is gearing up to manufacture EVs factory in Gujarat and is looking to infuse $600 Mn for the construction of a new plant at Hansalpur. The proposed factory will boast a manufacturing capacity of over 250K units33. Additionally, the company in partnership with Denso and Toshiba has announced plans to set up another factory that would be manufacturing lithium-ion batteries for electric as well as hybrid cars. Batteries for EVs are expensive and are mainly imported, so establishing local plants is key to India going electric.

• Hyundai Motor: South Korea’s largest carmaker is considering the assembly of electric vehicles in India as early as 2019. The company would explore a localization strategy for batteries, motors or any component, and may tie up with LG, Samsung or even do it in-house with Hyundai Mobis.

• Tata Motors: The company has recently won the bid to produce 10,000 Electric cars for Indian Government. The new electric cars will be used to replace Government cars over the next three to four years, with the number of vehicles used by Government agencies totaling ~500,00034. Tata Motors is also readying an electric version of its Tiago, which was showcased at the Auto Expo 2018.


• Ashok Leyland: The firm is looking to invest INR 400 – 500 crores in the EV business over the next 5 years. It would be employing a three pronged strategy to expand its EV Business – high speed fast-charging buses, can be charged overnight, and battery swapping technology with Sun Mobility to address a range concerns of electric vehicles.35 Earlier in Oct 2016, launched India’s first ‘Made in India’ electric bus - ‘Circuit’. It will have seating capacity ranging from 35 to 65, can run up to 120 km on a single recharge and, based on model, shall cost between INR 15 to INR 35 mn36.

• JSW Energy Ltd: JSW Group has signed an agreement with the government of Gujarat to invest up to INR 40 billion to build EVs and its necessary components in order to diversify its cleantech portfolio. The firm plans to roll out its EV by 2020, making it the first non-automotive company in India to enter the electric car business.37

• Renault: French automobile manufacturer Renault is trying to establish India as the global hub for its EV component manufacturing due to low costs and expected subsidies. The company, one of the major players in the electric vehicle segment, along with its global partner Nissan, is working towards creating an enabling ecosystem and infrastructure for EVs before entering the market.

• Goldstone Infra: Himachal Pradesh Transport Corporation (HRTC) has started running Goldstone’s zero emission electric buses. The bus has been certified by the Automotive Research Association of India (ARAI), and can run over 200 km on a single charge, with the ability to recharge in less than four hours leveraging fast charging technology. The company has received orders from HRTC and Brihan Mumbai Electricity Supply and Transport (BEST) for 25 and 6 buses respectively.38

• Big Basket: The online e-grocer big Basket, has been utilizing 10 Mahindra eSupro vans for intra-city delivery in Noida and has plans to increase the capacity to 50, over time.39

• NOW: A vehicle aggregator platform has over 290 bikers offering food delivery services to companies like Subway and Burger King amongst others. NOW has a target of touching 1500 e-bikers eventually as the negligible fuel cost per km is an economic value add for the Company.40

• Bharat Heavy Electricals Limited (BHEL): BHEL intends to manufacture entire segments of electric vehicles such as buses, cars, two-wheelers and boats.

• Bangalore Metropolitan Transport Corporation (BMTC): BMTC introduced India’s first electric bus for passenger service in Feb 2014. This pure-electric 31-seater bus can be driven for ~250km on a single charge, which takes four to six hours. The e-bus was priced around INR 27 mn as against INR 13 to INR 17 mn for a Volvo AC bus. The upfront cost was expected to be compensated by low running costs at INR 7/km as compared to INR 18/km for other AC city buses. In Oct 2016, BMTC gave an in-principle clearance to induct 150 electric buses. In addition to the green benefit, the average daily profit of operating an electric bus was INR 10,393 compared to INR 5,692 for a diesel bus.41


• JBM Solaris: JBM Auto entered into a Joint venture (JV) with Poland’s Solaris Bus & Coach SA for manufacturing electric and hybrid buses. The joint initiative JBM Solaris plans to invest Rs 3 Bn in this segment over the next 2-3 years.

• Lithium Urban Technologies: A Bengaluru-based startup with the motto of ‘Tomorrow’s transportation, today’ that offers employee transportation services using EVs to companies like Tesco, Unisys, Accenture and Adobe. It has 400 EVs that cover 300 km a day per car and also own their charging stations, which are also operated by the startup.


ChapTer 4

eleCTrIC VehICle ChargIng (eVC) neTwork

ChapTer 4


electric Vehicle Charging (eVC) networkOne of the key elements for establishing a successful rollout of the Electric Vehicle program in India is the structured development of Electric Vehicle Charging (EVC) network. Easy availability of EVC points in order to alleviate range anxiety is amongst the crucial issues that need to be strategically addressed. India’s demography further underlines the need for a systematic and well-executed initiative to ensure a pan-India rollout of EVC networks.

• Snap Bid for EVC issued by Government: The Government had called a snap bid for procurement of EVCs to ensure ready availability of charging stations in 2017, as vehicles from the phase I of the electric vehicles tender started coming in. The snap bid focused on acquiring 300 electric vehicle chargers from various service providers. Further, a global tender had been floated by Energy Efficiency Services Ltd (EESL) to procure around 4,000 EVCs. Major incumbents such Tata and Mahindra were amongst the top service providers who submitted and won bids to EESL for EVCs.42

Mega Investments for the EV value chain in India’s Capital43

Fast Charging Stations

Require a baseline investment of INR 25 Lakh

Slow Charging Stations

Require a baseline investment of INR 1 lakh

Area Requirements

An area of 3 square kilometers would require atleast 300 charging

stations

Strategic placement throughout the National Capital

Investment of INR 3,300 crore over 5 years


• Fortum Oyj Partnership: The Finnish clean energy company has signed a Memorandum of Understanding (MoU) with NBCC India, a Navratna, Government of India enterprise under the Ministry of Housing and Urban Affairs for developing charging infrastructure across India. Fortum plans to include developing charging infrastructure along with the cloud-based system (SAAS). Starting with a single 22 KW AC charger in New Delhi, the joint ‘Charge & Drive’ plan will roll out 150 charging stations over 18 months.44

• Tata Power: The Company is looking to partner with Delhi Metro Rail Corporation (DMRC) and Municipal Corporation of Delhi to set up charging stations at metro stations and other possible locations. The company also installed its first EVC in Mumbai as part of its sustainability initiative.45

• National Thermal Power Corporation (NTPC) & Power Grid Corp: State-run NTPC along with Power Grid Corp are also negotiating establishing charging infrastructure in a few cities.

• EVI Technologies: The startup company planned to launch its electric charger in 2017, with a focus on installing 5,000 chargers over a 5 year period. The impact from this infrastructure build up, will lead to a reduction in carbon emissions by 6 lakh metric tonne per year, and also focus on employment opportunities and job creation at these facilities.46

5.5 lakh

3 charging points for simultaneous charging

80 minutes to charge an e-rickshaw lead battery

Lead acid battery and lithium-ion battery will have the same charging times

Infr

astr

uct

ure

cap

acit

y

Current Cost

per unit

Charging Times


• OLA EVC: Ola along with Mahindra launched an initiative to establish an electric mass mobility ecosystem in Nagpur. The pilot electric charging station was unveiled within Nagpur’s airport complex, with Ola having already invested ~INR 50 crore towards EVs and related infrastructure.47 Further, the initiative started by identifying strategic locations around Nagpur (4 in number) and installing 50 charging points.

• Reva EVC: In 2013, Mahindra Reva Electric Vehicles Pvt Ltd had teamed up with the Gopalan Malls chain to establish the necessary charging infrastructure at all its chains. This initiative began with a pilot of an initial 10 charging stations.48

• DLF: As an initiative to support green energy, DLF offered 10 free EV charging facilitates in its Saket parking. These charging points can effectively charge both 2 and 4 wheelers. Further, DLF also provides a 50% parking discount to those utilizing EVs.49

An Example of EV average charging time and subsequent cost savings

Emergence of DC Quick Charging: Another vital infrastructural requirement of charging EV, will be the emergence of ‘quick chargers’ that shall be able to charge a vehicle in a matter of minutes, instead of hours. This move will greatly reduce the time value of investments spent on vehicular charge as well as focus on eliminating a major hurdle currently dis-incentivizing consumers from purchasing EV.50

Co

nn

sum

pti

on

an

d C

ost

Can be fully charged in 75 minutes using a super charger

Mahindra e20 Plus

Consumes 37 units of electricity with a consumption rate of INR 6 per unit

Cost to fully charge stands at INR 225

Distance and efficiency dynam

ics

At INR 2 per kilometer, the running cost is lower than a petrol or diesel vehicle

On full output, distance travelled is 110 kms, giving it an avg efficiency rate of 3 km per unit


Globally, in America, Europe and Japan, there are three competing quick-charging standards–

Smart Charger

Conversion

The plugs include data pins allowing the charger to pinpoint the required amount

of charge required for the vehicle in order to preserve battery life

No need for AC to DC conversion

The DC current flows directly into the vehicle, which is optimum with regard to charge time and battery life.

Level 3

The DC fast charger – Level 3 chargerFor vehicles requiring 480 volts or more.

Mahindra e2o electric

car

20 minutes to 0-80 %

CHAdeMO

Point of Origin – Japan

Utilized by - Nissan Leaf and Mitsubishi MiEV to name a few

Drawbacks - The CHAdeMo requires two battery ports, one for Alternate Current (AC) charging and one for quick Direct Current (DC) charging.


SAE Combo Coupler

Maximum Penetration-U.S. and European automakers

Utilized by – Chevrolet Spark

Highlight – It is a combination charger incorporating both a Level 2 AC and DC port into one charger. The consumer can utilize either port without worrying about connectivity issues.

Tesla Superchargers

Utilized by – Customers of Tesla who receive a charger with their Model S

Highlight – A supercharger station is a high current source that can fill the battery of a Model S in an hour. Further the adapter can charge on both CHAdeMO and Tesla networks.51


ChapTer 4

BaTTery: The FuTure eleCTrIC VehICle CaTalyST

ChapTer 5


Battery: The Future electric Vehicle CatalystAt the heart of Electric vehicle adoption is the battery, which makes up for the substantial cost of EVs. Unlike fossil-fueled cars, EV’s battery cost manifests itself as a function of range, in terms of distance travelled for each charge and charging time. In addition, the mechanics of future replacement of battery compounds the overall situation from an ROI perspective. The last decade has seen continuous innovation and disruption in Battery technology, which now holds the key to EVs viability from both an economic and an adoption perspective.

Batteries form a crucial part of Electric Vehicle, as they impact the cost and performance of EVs. A positive step in this direction has been the continuous improvement in technology and cost reduction, achieved over the last few years. Energy density of a battery is defined as the amount of energy, a battery can hold. Improvement in energy density is required for a long driving range of Electric Vehicle.

Lithium based batteries have already accomplished operational competitiveness over lead acid batteries. Although, lithium-based batteries have a higher upfront purchase cost than lead-acid batteries, the former has a lot of advantages over the latter. The comparison between Lithium Ion and Lead Acid Batteries is shown in the table below:52

S.No Parameters Lithium Ion Flooded Lead- Acid

1. Specific Energy 150 30

2. No. of cycles to 80% of SOH 1000-4000 200-1000

3. High Temperature Sensitivity Degrades above 450C Degrades above 250C

4. Environmental Risk Lower Environmental Risk Higher Environmental Risk

5. Fast Charging Time(Hrs) 2-4 8-16

Source: Https://medium.com/solar-microgrid/battery-showdown-lead-acid-vs-lithium-ion-1d37a1998287


• Each large lithium cell takes a considerable effort to produce. Both chemistries and manufacturing conditions must be absolutely precise, and thus special manufacturing facilities are required.

• India does not have enough lithium reserves for manufacturing lithium-ion batteries. Therefore, for promoting electric vehicle India has to secure Lithium reserves, a key raw material for EV batteries.

• With limited demand currently (as compared to lead acid batteries), the higher demand could actually bring down the prices by creating more manufacturing facilities. The prices of Lithium-ion batteries have reduced from $600 per kilowatt-hour(kWh) in 2012 to $250 per kWh in 2017 and for a market like India, this will have to be brought down to almost $100/kWh to make it viable. It is expected that the prices could even come down to below $100/ kWh by 2024.53

• Electric car charging time is still a major hurdle for adoption, with even the fastest supercharging technology taking at least 30 minutes to complete as compared to the 30 seconds or so needed to refuel at a traditional pump.

• New research could, however, solve this issue for many drivers with researchers at Purdue University having developed an “instantly rechargeable”, method which is said to recharge the car in the same time it takes to fill a gas tank.

• The new innovation is a membrane battery which uses fluid electrolytes to re- energize battery fluids. This would eliminate recharge time and reduce the need for new infrastructure to support recharging stations

Lithium Ion Battery

Recent Innovations


ChapTer 4

CurrenT ChallengeS oF The eV rollouT

ChapTer 6


Current Chal lenges of the eV rol loutIndia aims to shift more than 30% of its fleet to the Electric mode by 2030. It is an arduous task, considering only 1% of all passenger vehicles are electric in the country, which is the fifth largest passenger vehicles market in the world. The aforementioned 1% translates to 400,000 two-wheelers and a few thousand cars, according to the Society of Manufacturers of Electric Vehicles (SMEV) in Delhi.

While there has been intermittent policy support towards Electric Vehicles, the sector has still to overcome various challenges ranging from customer perception to expected breakthroughs in R&D. A brief on the current constraints faced in adoption of EVs:

• High Upfront Costs: A typical electric car is ~2.5 times higher in costs as compared to an entry level fuel efficient conventional car (an electric car in India costs around INR 0.5 to 0.7 million). However, two-wheeler EVs are cheaper than their petrol counterparts as they use low performance and cheaper lead acid batteries rather than more reliable Lithium-ion batteries.

• Battery Costs: Lithium batteries, which constitute about half of the cost of the EV Car and ~60% of the cost of a two-wheeler, need replacing every few years and are imported from China. This makes long-range EVs significantly more expensive than a regular EV. Further, Riding cost is also constrained by life of battery (approximately 4-5 years) and high replacement cost (around INR 0.2 to 0.3 million).

• Range Anxiety: With lack of public charging infrastructure, consumers have to worry about whether the EV will run out of charge at an inconvenient place with no access to a plug point.


• EVC Network: Shortage of charging stations, even in cities, limits the range that EVs can ply. PlugIn India lists just 222 community charging stations across the entire country. Further, there is a requirement for amendment to The Electricity Act 2003, which states that a distribution license is required to distribute power from respective state electricity regulatory commissions (SERCs), to enable more charging stations being installed.

• Retrofitting Existing Infrastructure: As per the current infrastructure, Energy Distribution Substations are working at almost maximum capacity, to cater to the existing electricity demands of the people. Adoption of Electric Vehicle will lead to an additional load on the substation and thus these will be required to be upgraded.

• Thermal Management: Thermodynamic condition i.e. heat, is a major issue in India. Further, fast charging may not work in Indian weather conditions. In case of an Electric Vehicle thermal management is a very crucial aspect as excessive heat may reduce the life of the battery and may lead to a fire hazard.

The sector has seen a recent push by Indian state-backed researchers and private companies are now starting to invest in domestic innovation, manufacturing and infrastructure to overcome the aforementioned barriers. The auto industry is currently flourishing, with India becoming an export hub for small and medium-sized cars. This makes the industry well-poised to go all out on electric, especially with the Government working towards creating enabling EV policies. It’s time for the auto/EV industry to collaborate with technology and mobility solution providers, and Original Equipment Manufacturers (OEMs) to capitalize on this potential and make an accelerated move to electric to get ahead of the inevitable disruption curve and reap the rewards.


InnoVaTIVe BuSIneSS Model

ChapTer 7


Innovative Business Model

With Electric Vehicles entering the market, the auto industry and policymakers are experimenting with new business models to clear the way for the technology. While scientists are busy at work on the technology, a number of innovative business & financial models have emerged globally to boost the EV market. A brief on few models that India could leverage:

7.1 Business Models:

• Buying Storage as a service: Building EVC infrastructure in the long term is inevitable as electric cars become mainstream. In the meanwhile, the short-term solution could be sharing the infrastructure (batteries) rather than building new infrastructure so users can charge their batteries individually. Consumers don’t want to buy batteries, and would prefer to buy storage as a service.

• The batteries of electric vehicles cost more than those of non-electric ones because of the integrated lithium-ion units. In the swapping model, the manufacturer owns the batteries and charges drivers for the service provided based on the usage, enabling drivers to swap their vehicle batteries in less than a minute. Also, the cost of purchasing an EV without a battery becomes lower than buying a diesel vehicle.

• Further, to make the system even more environmentally friendly, many of the swapping stations, globally would soon be powered by solar panels.


• Connected Ecosystem: The industry, Government and all involved stakeholders must focus on developing an ecosystem that helps stakeholders to stay connected, resulting in a high-functioning EV-driven public transport system. For example, an electric bus heading for the last-mile stop can signal to EV taxis in the area about how many passengers it will be offloading. This ensures optimum onward journey options for disembarking passengers. Further EVs can communicate with refueling stations about battery requirements, so there is never any danger of being stranded.

A well-connected ecosystem helps to develop an effective and real-time big data analysis for continuous integration and improvement. A convenient network of recharging and swapping stations, car parks and bus depots, that provide charging points and batteries for swapping, will benefit the nation both economically and environmentally.

• EVs to be sold like Electronics: With automakers coming to the market with electric cars, they’re expanding their partners beyond their normal set of dealership crew. Globally, General Motors and Nissan, Ford and Mitsubishi have signed on Best Buy’s Geek Squad to aid in home charging station installation for their electric vehicles. The Geek Squad does not do the electrical installation of chargers, but provides an initial evaluation and customer support.

• Best Buy’s core business is to sell electronics, and the firm believes that just as consumers need help with their electronic needs, they need assistance with their increased transport options such as electric bikes, motorcycles or cars.

• Mobile Phone App Technology: With range anxiety, one of the key hurdles hindering the EV market, EV drivers want to know where the closest charging station is, and whether it’s available. Global charging station makers Ecotality and Coulomb Technologies have built networked charge points that lets consumers locate and reserve spots from your phone. One start-up called PlugShare has even built an app that lets homeowners share their plugs with drivers.

• In 2014, while Indian electric vehicle manufacturer Gayam Motor Works (GMW) was designing and developing electric three-wheelers for a Japanese firm, it became clear to them that the key to electric vehicle adoption in India was to make charging as simple as going to a fuel station.

• In 2015, GMW India launched the SmartAuto, a new lithium-ion three-wheeler. This model can be fully charged in just 3 hours, has a range of 110 km per charge, reaches a maximum speed of 55 km/h, and can carry about 500 kg in load.

• However, the lack of charging stations was still a problem. So that same year the company came up with India’s first battery swapping system for electric three-wheelers. It enables drivers to swap their vehicle batteries in less than a minute, and brought the cost of EV three wheeler than buying a diesel vehicle.

Case in Point


• Repurposing Lithium Ion Batteries for Grid Storage: Lithium ion batteries are expensive, making up ~50% of the cost of an EV. As we await technology breakthroughs that continue to improve the energy density of batteries enabling longer range and cut prices down, the auto and utility industries are looking at ways of repurposing auto batteries for grid storage. Giving the replaced lithium batteries a second life to serve the purpose of grid storage, allows all the stakeholders involved to get more value from the product and lower the upfront cost for EV consumers. Key model being explored is that utility companies would own and lease the batteries to consumers and then recoup them after a certain time.

7.2 Financial Models

1. California Capital Access Program (CalCAP) EVC Financing Program54: The CalCAP EVC Program aims to expand the number of EVC stations installed by small businesses in California. The $2 million financing program, funded by California Energy Commission, works towards encouraging banks and other financial institutions to lend to Small Businesses for installing and running EVC Stations, and also provides incentives to small business owners and landlords to install electric vehicle charging stations for employees, clients and tenants.

Model - Loan Reserve Program

• Offering a pooled insurance fund to reduce lender risk

• Allowing CalCAP to deposit funds into a reserve account for each loan enrolled in the program

• Providing lenders access to reserve account funds, should there be a loan default

• Enabling CalCAP to use reserve account funds to pay rebates to the borrowers

Advantages

• Encourages installation of electric vehicle charging stations at workplaces, multi-unit dwellings and destination centers

• Reduces the cost of charging station acquisition and installation by providing a rebate to the borrower

• Can be paired with other grant programs to further reduce the overall cost of charging station acquisition and installation

• Earlier in the year, Southern California utility San Diego Gas & Electric (SDG&E) unveiled its brand new storage facility, a 30MW battery system capable of storing 120MWh of energy, which can serve 20,000 customers for four hours. The installation is currently the largest grid-tied lithium-ion battery system in the US. Tesla announced a similar 20MW, 80MWh system in January’ 17 in conjunction with Southern California Edison.

Case in Point


2. CalCAP Borrower Rebate: Borrowers are eligible for a rebate when the loan is paid off or after 48 months, whichever is sooner, if the following criteria are met:

• Good payment history (no more than one 30 day late payment)

• Documentation indicating the charging station has been in service

• Outstanding balance cannot be refinanced with a Program lender

3. Capturing the Indirect Value of EVCS to unlock private capital: Business models based solely on direct revenues from EV charging services are currently financially, infeasible. Models that capture the indirect value the private sector gains from EV charging services will increase private sector investment

• Some examples of EV charging indirect value –

- Increased sales of other products and services at businesses located near EV chargers

- Increased tourism business from EV travel to popular destinations

- “Clean energy” marketing and brand-strengthening opportunities

• Key private sector partners: automaker, electric utility, and retailer

- These partners could share some of the indirect value they derive from EV charging stations by contributing funds to the charging service provider to help stations get deployed

- European Green Vehicles Initiative (EGVI) PPP55: EGVI is a public-private partnership between the European Commission (EC) and the private sector. The private side of the PPP is represented by European Green Vehicles Initiative Association (EGVIA). The role of the Association is to engage in the contractual PPP with the EC and collaboratively work towards creating an enabling ecosystem of Electric Vehicles.

- The funds are contributed equally by EC and the industrial partners, which are invested in deployment and transfer of successful concepts in the EV industry, impacting on the high expenditure being spent on R&D.

- In total, it has supported 107 research and innovation projects with an EU financial contribution of EUR 420 million in strategic areas such as advance electric energy storage systems, advanced electric propulsion, vehicles grid integration, safety, low emissions, long distance trucks and logistics.

Rebate sent to borrower

Lender makes a EVC Loan

Lender sends

enrollment to CalCAP

EVC is installed

Loan is paid off


polICy reCoMMendaTIonSChapTer 8


pol icy recommendations

To pave the way for future growth and accelerate the rate of adoption of EV in India, it is of vital importance to create an enabling ecosystem conducive to their development. Further, in order to achieve the dream of a shared, connected and electric future, synergetic agendas need to be established between the Government, private automobile manufacturers, vendors, financial institutions and EV startups.

Agenda 30x30

The Agenda 30x30 builds on the rallying cry for ‘clean and green India’, uniting all stakeholders together for the cause of a low carbon, electric future, by creating a series of actionable recommendations, leading to specific policy outcomes through a pan India dialogue.

These recommendations can be vital towards establishing a nurturing environment that focuses on faster adoption of electric vehicles, and can catapult this ecosystem to the next stage of new age growth.

“Agenda 30 x 30 pledges to create a conducive ecosystem for India’s emerging electric vehicle market, with a focus on

atleast 30% adoption of electric vehicles, across all segments by 2030.”


Financial Incentives:

• Rationalization of Taxes – In order to promote faster adoption and manufacturing of electric vehicles, the Government may rationalize taxes on various EV components, thereby promoting, domestic production and faster adoption.

o A case in point is the 12% GST on EV as compared to a 28% GST on ICE vehicles.

• Weighted Tax Deductions on Research and Development (R&D): With existing automobile incumbents spending a lot on R&D in terms of design and technology implementation, it is of vital importance that optimum levels of weighted tax deductions be incorporated on EV R&D in order to incentivize production.

• Zero Emission Vehicle (ZEV) Credits56: ZEV credits are a system within the automobile industry where incumbents, selling combustion engine vehicles need to earn a certain number of these credits per year by selling a certain number of zero emission vehicles. In case any manufacturer is unable to meet their yearly quota, they may trade these credits with their competitors for a fixed fee. This would require introducing regulations that requires automakers to sell EVs at State and National level, linked to their overall sales within the state/nation.

- The program would ensure that automakers continue to research, develop, and market electric vehicles (EVs)

- It would incentivize manufacturers to showcase innovative EV solutions and designs at a scalable level.

o Case in point: The California Air Resources Board (ARB) ZEV Regulation requires large volume and intermediate volume vehicle manufacturers to bring to and operate in California a certain percent of ZEVs.

These credit balances reflect ZEV regulation compliance through model year 2016, representing a total of over 5 million vehicles including over 1,300 fuel cell vehicles, 140,000 battery electric, 29,700 NEVs, 80,000 clean plug-in hybrids, 750,000 clean hybrids, and over 4 million clean gasoline vehicles.57

• Feebates Program: Feebates are rebates for efficient new vehicles paid for by fees on inefficient ones. A robust and structured feebates program coupled with current regulations can propel the auto industry to incorporate Green Technology and fastrack the transition of consumers towards clean energy vehicles.

Case in Point58: The Bonus-Malus program, part of France’ comprehensive environmental framework known as the Grenelle Program, paid buyers (in 2008) of cars emitting a maximum of 160 grams of carbon dioxide per km (209 grams per mile) a bonus ranging from $255-6,365 depending on emissions levels.


Preferential Incentives:

Charging Infrastructure:

Entrepreneurial measures:

Incentive Description

Odd-Even Exemption No restrictions under any traffic curtailment plans

Preferential Lane Access Access to bus lane, fast lane, car pool lane etc.

Reserved Area Access Certain popular city areas earmarked for exclusive access to EVs

Parking Slots Preferred and reserved parking slots

Discounted Tolls & Fee Waiver or discounts in highway toll, parking fee etc.

Discounted Charging Expense Waiver/discount (differential electricity slabs) on charging expenses.

Liberal Permits Preferential or on-demand permits for battery powered auto-rickshaws, city taxis etc.

Young Riders Lowering minimum age to ride low speed electric two-wheelers

• Vehicle Grid Integration (VGI): Introduction of a regulatory framework that incentivizes the utilities to invest in EVC infrastructure and harness the technologies within EVs to allow them to serve as a grid asset, which could lead to more solvent DISCOMs and a robust, domestic electricity sector.

- Case in Point59: US along with its ZEV action plan has also introduced Vehicle Grid Integration roadmap that mandates utilities to include EVs in their resource plans and encourages state regulators to approve utility programmes that accelerate EV adoption in the state. All three large utilities in the state proposed pilots to expand utility investment in EV infrastructure.

• Construction Regulations: Altering building regulations to include charging infrastructure atleast in multi-dweller units & office premises (Brownfield), and as a mandatory provision in under construction and upcoming highway contracts (Greenfield).

• EV Incubation Centers: Establishing state/national level incubation centers to mentor, support and scale entrepreneurs working on technological and business models breakthrough in EV/Clean Energy segment. These can be in the form of academic-industry tie ups to promote and scale next generation startups.

• Innovation Challenges: Platforms like the Atal Innovation Mission (AIM) under NITI Aayog, can launch EV related specific challenges targeting entrepreneurs for clean energy based solutions.


• Central Data Centre: Creation of a central data center and standard reporting framework of data related to EV segment amongst all stakeholders would lead to connected mobility solutions and can tackle issues such as infrastructure of EVC via a collective targeted low cost high impact model. This information can be launched on the governments open data sets, so that individual researchers, academics and automobile bodies may utilize it to come forward with unique research and findings.

Additional Measures

• Government may increase the budget outlay on research and development in Electric vehicle technologies

• The industry and Academia collaboration for indigenous, intrinsic and domestic relevant solutions

• Sensitizing and creating awareness in public interest around vehicular pollution and benefits of Electric Vehicles.

The automobile industry is currently at an inflexion point with EV penetration increasing across various markets globally, having already, captured double digit market share in a few countries.

The EV market in India, though at a very nascent stage and indeed lagging vis-à-vis the global markets, looks promising due to an ever increasing domestic automobile market and GoI focus via initiatives such as lower GST. However, we need a more comprehensive and structured reform incentive to fast track adoption of Electric vehicles in India by promoting adopters and discouraging polluters.

The benefits, indeed, accrue across the economy in areas such as energy security, savings in oil import, thrust to ‘Make in India’ and addressing rising air pollution levels in our cities. The industry and Government must work collaboratively to leapfrog India as a leader in mobility by addressing issues such as higher purchase cost, rollout of charging network, manufacturing & OEM capacities and, most importantly, user awareness & acceptability.

Initial Government support and sustainable policy framework would go a long way in providing momentum to this industry and strengthening our country as a formidable global player and market leader in this landscape. The EV roadmap still has many miles to go , when the rubber meets the road but this is a promise we must make, a challenge we must meet for our country, and our planet. We owe it to ourselves and our future generations to take the road less travelled.


# Country Purchase Incentive Operational Incentives Promoting EVC OutletsPromoting

EVC Outlets Subsidy Taxes Recurring

Taxes

Operational

Cost

Fee

Incentives

Preferential

Access

1 China Exemption in acquisition and excise tax

Exempted from circulation/ ownership taxes

Preference for (as such restricted) license plates

Policy to unify charging standards, encourage fuel pump to install EVC, Government parking lots to have EVC

2 USA Federal income tax grants upto $7,500; state specific credits

Exemption by certain states in annual fees

Reduction or exemptions in electricity supply

State specific lane access incentives

Federal Funding; 36,500+ public EVC (till 2015)

3 Japan Upto ~ $ 7,800

Reduction/Exempt in acquisition tax

Reduction/Exempt in annual tonnage taxes


Fee waivers (tolls, ferries, parking)

Retailer partnership with two-third funding

4 Norway Purchase taxes exempt; VAT exempt to BEVs


Fee waivers (tolls, ferries, parking)

Access to bus lanes

5 Netherlands Increasing taxation linked to CO2 emission

Parliament bans petrol and diesel cars sale from 2025

6 France From $1,100 - $7,100

Exemption in company car taxation for few EV


In new residential and workspace; Fiscal incentives for public EVC

7 UK From $3,500 - $11,200

No company car tax (BEV); Emission


London Congestion Charge waiver

Financial support to home chargers - lower of 75% financing or GBP 500

8 Denmark No annual circulation tax for BEVs (< 2 tonnes)

~$0.15/kWh rebate for commercial EV charging

Differential parking rates for EVs

Tax rebate (~$2,700) on home charger installation to support public charging

9 Germany Circulation tax exempt for first ten years

Free or dedicated parking;

Access to bus lanes & restricted areas

Annexure – Global Policy Initiatives


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NOTES


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