EV adoption could save $10 bn, create millions of jobs by 2030: Amitabh Kant

New Delhi, July 9: Highlighting the need to create a new overarching strategy for road transport that can boost transition to Electric Vehicles (EV), G20 Sherpa and former NITI Aayog CEO, Amitabh Kant on Tuesday said that EV adoption could save $10 billion and create millions of jobs by 2030.

"There is a need to develop a new overarching strategy for road transport that can accelerate the EV transition by 2030," Kant wrote in a post on X.

He also mentioned that this transition should focus on fully electrifying India's 50 most polluted cities by 2030.

"This could save $10 billion by 2030 and generate millions of jobs, positioning India as a global EV manufacturing leader," the G20 Sherpa mentioned.

Kant also shared an article written by him along with the post, in which he mentioned that the first step should be to electrify two-wheelers, three-wheelers, light commercial vehicles, and buses, as they are key contributors to tailpipe emissions.

"These cities alone account for over 40 per cent of the nation’s vehicle registrations. If these cities achieve 100 per cent electrification in new vehicle sales by 2030, India will be well on its way to sharply reducing its oil needs," he said.

As per the World Air Quality Report 2023, India ranked among the top three countries with the highest PM2.5 levels and is home to 42 cities among the top 50 with the worst air quality.

As mentioned by Kant, transportation emissions play a significant role, accounting for 14 per cent of energy-related CO2 emissions in India and heavily contributing to PM2.5, PM10, and NOx emissions.

The EV market in the country is currently valued at $5.61 billion (2023) and is projected to reach $50 billion by 2030, potentially creating at least 5 million direct and up to 50 million indirect jobs, he noted.