Seven years from now, the Electronic Vehicle (EV) industry is slated to hire ten million people, i.e., ten million as direct recruits into the EV industry and another 50 million in EV-allied jobs, as per IBEF reports. Even in a buoyant job market, this figure is staggering. Coming from auto-industry leaders and the Government of India, the news ushers opportunities and change. EV will electrify the market and catapult recruitment. This is the next great opportunity for India, the fastest and the largest ever.
The blueprint of change
In 2022, when India pipped Japan to become the world’s third largest auto market, auto sales never looked better in the country. Today, with over 21 crore two-wheelers and more than 7 crore four-wheelers, the Indian roads are busy. Just as busy is India’s auto industry, which at present is the fourth largest in the world.
Poised to break into this market and change the entire lay of the land is India’s EV Industry.
As per National Institution for Transforming India (NITI Aayog), by 2030, 80 per cent of two and three-wheelers, 40 per cent of buses, and 30 to 70 per cent of cars in India will be EVs. This includes all government-owned vehicles.
In addition to the existing 2,700 public charging stations and 5,500 charging connectors, to support the expected demand for EVs, India will need as many as 20.5 lakh charging stations by 2030. This monumental task must be completed alongside EV manufacturing and sales.
Driving India
India’s climate commitment, the critical need for clean, green energy which is less dependent on fossil fuel and the goal to achieve net zero carbon emission by 2070, are the driving forces behind this goal. EVs will help in achieving these objectives, because unlike vehicles that run on traditional gasoline, EVs are fuelled by Lithium Ion batteries that are less polluting and more energy and cost efficient.
For a nation that is looking at shifting from being a purely service driven economy to a global hub for manufacturing as well, EV manufacturing and allied services will play a mission critical role.
The EV umbrella
Included under the enormous EV umbrella are India’s original equipment manufacturers (OEMs), EV franchisers, battery manufacturers, manufacturers of EV components and accessories, solar vehicle charging and battery swapping infrastructure providers, a seamless supply chain, battery recycling plants, companies that can set up charging stations across the country etc.
The Ministry of Skill Development and Entrepreneurship believes that this huge task, owned by the EV industry, will generate one crore jobs by 2030. Compare this with the IT sector which is laying off thousands of people every day and a clear picture will emerge as to why EV is looking like the next big boom for India.
Read more at: https://economictimes.indiatimes.com/small-biz/sme-sector/is-ev-the-new-it-in-india/articleshow/99201335.cms
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