Sustainable Mobility through Entrepreneurship in Science and Technology

Abstract

Building a carbon-neutral and climate-resilient future requires the coexistence of economic and environmental activities. Electric and Hybrid Vehicles are the new sustainable ways for clean and efficient mobility solutions. As per the literature available through the NITI Ayog, Bureau of Energy Efficiency, and the Ministry of Power, various policies can foster Electric Vehicles' adaptability (EVs). Through the National Electric Mobility Mission Plan 2020, the Indian government aims to provide sustainable mobility by incentivizing electric and hybrid vehicles in India. Such lowcarbon innovations, coupled with robust infrastructure and technological advancements, can lead to sustainable development in the future. Faster Adoption and Manufacturing of Electric and Hybrid vehicles in India (FAME India) initiative has been taken up by the government since 2015. Unfortunately, the actual numbers did not match the expected rise in the number of EVs in the market. This paper aims to study the failures of PHASE 1 of FAME India. The paper also focuses on applying EVs into the business owing to EV's low variable cost. Therefore, it further expands its application to logistics and supply chain management by integrating information and communication technology. Post-Pandemic, the targets of FAME PHASE II will be affected. The paper will assess the targets, expectations, and application parameters that must be renewed to adapt to present changes. The study will be exploratory to figure out the reasons for the failure of Phase 1. There is a gap in planning and implementing government aids/initiatives and its hybrid vehicles' acceptability. The variables that need to be studied included cost, disposable income, appropriate infrastructure (power, industry for renewal of lithium batteries, charging infrastructure for batteries), durability, and the vehicle's efficiency. The sources of data collection are primarily secondary. With relatively lower gross Domestic Product, an Indian citizens' per capita income is low compared to Western economies. Lesser income leads to lesser affordability to spend on 4- wheeler electric vehicles. Unlike the west, most of India's vehicles belong to the category of two-wheelers and three-wheelers. The discrepancy is basically due to the money-cost involved in it. The dominant cost involved in making an electric vehicle is its battery's cost. With relatively higher fixed costs, the upfront cost to buy an electric vehicle is too high for India's middle-class citizens. The majority of the Indians do not have the purchasing power for this product. Moreover, robust government initiatives fail to convince the buyers to switch from regular vehicles to electric vehicles. The methodology adopted for this study revolves around secondary data gathered through website Paper Presented at 14th Biennial Conference held at EDII, Ahmedabad during 25 ‐ 27 February 2021 reviews, interviews on the web, data on the Ministry of Heavy Industries and public enterprises, and other government sources. There are specialized portals online, like team-bhp, that share buying cars' first-hand experiences to help in critical analysis in adopting electric vehicles. Sustainability is required to march forward towards the next generation, but the question that is required to be answered is, can India do this? Does incentivizing the production boost sales? Is it a business problem that needs to be solved or an ideological issue that needs to be addressed? What should be the Adoption Model in this regard? How can electric and hybrid vehicles be applied in business? Can we adopt the models from the west? Questions like these need to be answered. This paper aims to address these questions that shall bridge the gap between policy implementation and the adoption of the concept of sustainable mobility.