A milestone’s been spied for a switchover to EVs
Time-and-again, road transport and highways minister Nitin Gadkari has expressed confidence that electric vehicles (EVs) will achieve price parity with conventional petrol burners in India within two years. Governments under climate pressure are given-to mixing projections with wishful thinking, and unless the Centre amps up subsidies, that looks unlikely in most market segments. Since electric and fuel-burning engines differ so much, however, the bigger question is their relative cost of ownership. On this, prospects of convergence have been outlined by a Crisil Research report. On a broad average, it forecasts the premium paid on owning a sport utility vehicle (SUV) that draws power from a battery over an SUV that runs on petrol at only 11% in 2025-26, down from 23% at the end of 2021-22. By Crisil’s estimates, while an electric SUV that logs 12,000km over four years would cost its owner at least ₹35.2 per km by 2025-26 end, a little more than last year, petrol users will face a steeper rise and have to shell out ₹31.8 per km. All vehicles get increasingly economical with greater use, but since EVs are seen to do this better, the gap would close sooner for those covering longer distances.
Any cost trend that favours EV adoption is good news from a climate perspective, although electricity generation would also have to go mostly clean for a mass switchover to do-its-bit. Even then, our green path may not prove as smooth as we hope. The outgo on a petrol SUV is projected to go-up faster than an EV equivalent for reasons that include higher fuel expenses, input costs and a heavier regulatory burden, but oil-price volatility weakens all forecasts of a big factor in that mix. In general, though, crude seems likely to get dearer over the years even if it eases from today’s war-driven level. As for input-inflation, supply snarls of the sort that disrupt the assembly of Fossil-fuel cars could impact EVs too. For example, the price of nickel, a key battery input, has soared as Russian supplies got squeezed after Russia’s invasion of Ukraine. Meanwhile, China’s dominance of battery-making is another source of anxiety for the global EV industry. The US recently invoked a defence-production law to secure its own lithium, graphite and other materials for that task. With world trade in a state-of-flux, a major EV shift has begun to look trickier globally than it did two months ago.
To be sure, state incentives could plug cost-of-ownership gaps in India, even make EVs more attractive. But other deterrents remain. While talk of battery-swapping for energy refills has been in the air, most four-wheeler EV users will probably have to routinely recharge their power-tank, watch its efficiency slide over time and then replace it after a few thousand plug-ins, which could set them back by a big lump-sum. Also, as charging networks sprout, these would have to prove their reliability on ease of access and speed of recharge before EVs can nudge more than just early adopters out of their inertia. The pace at which EV stations fan-out from big cities across the country will matter too. In some ways, two-wheelers are a test case for EV adoption. These are already financially lighter on users than fossil-fuel alternatives, notes the Crisil study. While their safety has been a concern—currently being probed by the Centre after a string of fire mishaps—sales have seen an uptick in recent months. If quality bugs are fixed and this market takes-off, a wider EV shift would look less distant.
-
Economical (adjective) – careful not to waste money or resources. किफायती, सस्ता
-
Meanwhile (adverb) – for now, for the moment, for the present, for the time being
इस दौरान
-
Projection (noun) – estimate, forecast, prediction, calculation, prognosis,
अनुमान
-
Pace (noun) – speed, rate, swiftness, quickness गति
-
Lump sum (noun) – A single payment made at a particular time, as opposed to a number of smaller payments or installments. एकमुश्त
-
Distant (adjective) – vague, faint, dim, faded; faraway, far off, far दूर का
Time and again (phrase) – Frequently, often, repeatedly, many times बार-बार
-
Milestone (noun) – turning point, critical point, major achievement (in development)
-
Spy (verb) – Investigate, explore, search, examine जांच करना, पता लगाना
-
Switchover (noun) – An instance of adopting a new policy, position, way of life, etc.
-
EVs (noun) – Electric vehicles
-
Price Parity (noun) – a term used to explain when two assets are equal in value.
-
Conventional (adjective) – usual, normal, regular, ordinary, traditional, common सामान्य
-
Petrol Burner (noun) – Vehicle which runs on petrol i.e. bike, car etc.
-
Give to (phrasal verb) – allow, permit, let have, grant, accord अनुमति देंना
-
Projection (noun) – estimate, forecast, prediction, calculation, prognostication पूर्वानुमान
-
Wishful (adjective) – aspiring, hopeful, yearning, ambitious इच्छाकल्पित
-
Amp up (phrasal verb) – to Increase the level or amount of (something) sharply.
-
Relative (adjective) – comparative, respective, parallel, corresponding, reciprocal आपेक्षिक
-
Prospect (noun) – possibilities, potential, expectations, outlook
संभावनाएं
-
Convergence (noun) – The act or fact of coming together: merging, coming together संमिलन
-
Outline (verb) – indicate, summarize, Give a summary of रेखांकित करना
-
Own (verb) – be the owner of, possess रखना
-
Draw (verb) – take out, produce, extract लेना
-
Log (verb) – achieve, make, cover (a certain distance) दर्ज करना
-
Shell out (phrasal verb) – pay, spend, expend, pay out, lay out, disburse खर्च करना
-
Adoption (noun) – Acceptance, implementation, espousal, acquiring
अपनाना
-
Mass (adjective) – majority, larger number, larger part, greater number बड़े पैमाने पर
-
Do one’s bit (phrase) – to make a small but expected contribution to a larger goal.
-
Outgo (noun) – the outlay of money; expenditure खर्च
-
Go up (phrasal verb) – ignite, increase बढ़ना
-
Regulatory burden (noun) – It includes taxes, penalty, fine etc.
-
Volatility (noun) – Instability, capriciousness, change rapidly and unpredictably (especially for the worse.) उतार-चढ़ाव
-
Crude (noun) – Natural mineral oil.
-
Dear (adjective) – Expensive, pricey, pricy, costly, exorbitant महंगा
-
Ease (verb) – reduce, alleviate, lessen कम होना
-
Input inflation (noun) – inflation caused by an increase in prices of inputs like labour, raw material, etc.
-
Snarl (noun) – A confused, complicated, or tangled situation
-
Assembly (noun) – construction, building, manufacture, setting up, putting together निर्माण
-
Fossil-fuel car (noun) – vehicles which are powered by fossil fuels, such as gasoline, diesel, kerosene and fuel oil
-
Soar (verb) – rise, mount, Escalate Increase बढ़ना
-
Squeeze (verb) – (especially in a financial or commercial context) have a damaging or restricting effect on. कमी आना
-
Dominance (noun) – Power, control, supremacy, influence, leverage दबदबा/ बोलबाला
-
Anxiety (noun) – worry, concern, nervousness, apprehension चिंता
-
Invoke (verb) – put into effect , resort to, use, put into use इस्तेमाल करना
-
State of flux (phrase) – constantly changing
-
Tricky (adjective) – Complicated, delicate, problematic, complex, difficult पेचीदा/मुश्किल
_
To be sure (phrase) – Certainly, ensure, make sure निश्चित रूप से
-
Plug the gap (phrase) – Provide something that is lacking in a particular situation.
-
Deterrent (noun) – Prevention, restriction, restraint, obstruction, hindrance अवरोध
-
Battery swapping (noun) – Battery swapping is when the discharged battery is taken out and interchanged with a fully charged one
-
In the air (phrase) – Noticeable all around; becoming prevalent.
-
Slide (verb) – Fall, decrease, diminish, go down गिरना/ कमी होना
-
Plug-in (noun) – Connect an electrical appliance to the mains by inserting a plug in a socket.
-
Set back (phrasal verb) – cost a certain amount; put back
-
Sprout (verb) – increase, grow, develop, emerge, Appear (suddenly and in large numbers). वृद्धि करना
-
Reliability (noun) – Dependability, consistency, trustworthiness विश्वसनीयता
-
Adopter (noun) – embracer, accepter ग्रहण करने वाला
-
Inertia (noun) – Disinterest, inactivity, Unwillingness, lethargy जड़ता/निष्क्रियता
-
Fan out (phrasal verb) – to spread out over a wide area विस्तार करना
-
Concern (noun) – Anxiety, worry, apprehension fear चिंता
-
Probe (verb) – investigate, examine, scrutinize, inquire into
जांच करना
-
String (noun) – Sequence, series chain श्रृंखला/ क्रम
-
Mishap (noun) – trouble, problem, difficulty, issue, setback दुर्घटना
-
Uptick (noun) – A small increase,rise इजाफा
-
Bug (noun) – fault, error, mistake, problem त्रुटि
-
Take off (phrasal verb) – succeed, do well, thrive, boom, catch on, progress, गति पकड़ना
-
Time and again (phrase) – Frequently, often, repeatedly, many times बार-बार