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Friday, December 09, 2022

By CarKhabri Team

Can Shared Mobility Boost The Indian Automobile Industry?

Can Shared Mobility Boost The Indian Automobile Industry?

With the regular hike in fuel prices across the world, the dream of buying a car is getting far from the eyes of a layman. Although there are multiple finance options available nowadays in the market, people have to combat not only the tension of EMI and fuel cost but also their other expenses. Well, the hike in fuel prices not only impacts the pockets of prospective auto buyers but also the pockets of daily commuters in public transport facilities. The hike in fuel prices also increases charges charged by local transporters.
To cater to this problem, the practice of shared mobility has emerged as a panacea for daily commuters in public transport facilities. The most important benefit of shared mobility is enjoyed by people working in the same office or going to the same location every day. It wouldn’t be wrong to say that the concept of shared mobility is dynamically changing the problem of mobility at a jet dynamic speed. Moving ahead with a shift towards electric mobility it is believed that in coming years the practice of shared mobility will offer a more cost-effective option for travelling to people using public transport.
However, the market of electric vehicles in India is still in the infant stage. The government of India is taking interesting steps towards the adoption of electric vehicles in the form of tax benefits and subsidies to the buyers of electric vehicles. According to Research and Markets, India's Electric Vehicle Ecosystem Market Outlook, 2030, will grow @ a CAGR of 43.13%  by 2030.
The target of reaching 30% dependency on electric mobility by 2030 as determined by the government of India will be mainly achieved by an increasing number of electronic two-wheelers, three-wheelers and commercial vehicles. As far as the electrification of passenger vehicles is concerned it is believed to hardly impact the target of achieving this objective.
With the extension of (FAME-India), Faster Adoption and Manufacturing of Electric Vehicles will surely help in encouraging the dependency on eclectic mobility. The incentives offered by the government to users of electric vehicles will surely help in improving the infrastructure of transport facilities in India. The development of charging infrastructure is playing an important role in the adoption of electric vehicles. This can help in exploring the practice of shared mobility. Once people get familiar with electric vehicles they will understand the cost of their operation is cost-effective and within their budget. The cost per kilometre of an electric two-wheeler is INR 3 and the four-wheeler is INR 10.
What is the Future? With emerging new technologies and development of the required infrastructural facilities for electric vehicles, it is believed that the integration of comfortable features and cost-effective maintenance will play a vital role in increasing the practice of shared mobility in India.

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