electric twowheelers have been raised from rs 10000 per kwh to rs 15000 per kwh the government has approved rs 18100 crore worth productionlinked incentive pli scheme for investment in advanced chemistry cell acc battery manufacturing it has also approved rs 26058 crore for automotive manufacturing focusing on evs and hydrogen fuel cell vehicles one of the sectors that can directly benefit from adoption of evs is the gig workers segment ecommerce companies like amazon capgemini dalmia cement and zomate made new commitments to achieve 100 electrification of their fleets in the country between 20302040 besides companies like ashok leyland mahindra mahindra omega seiki mobility simple energy and tata motors have announced that they will invest a total over rs 48000 crore in evs components and battery manufacturing however even after this obtaining adequate finance remains a challenge for manufacturers low liquidity a challengethe niti aayog report states that retail lending to support consumers and institutions in financing evs has been slow to pick up financial institutions have not yet increased lending to the level that would be requiredan estimated rs 40000 crore 5 billion by 2025 and rs 37 lakh crore 50 billion by 2030 it saidthis is the situation even when public and private investments and government initiatives towards indias ev dreams are accelerating capital deployment the report said that banks and financial institutions are still wary of lending to evs due to the associated asset and business model risks given that the sector is still in its nascent stage india is witnessing a very unique growth model for clean mobility with the adoption being built groundup however the infrastructure to support this ecosystem is still at a nascent stage there are several crucial factors that are inhibiting the growth and need an inclusive approach at the central and state level krishna k jasti co founder and ceo of evre said hence ev makers often need to deal with challenges like high interest rates almost 2 times that of petrol vehicles low loan to value ration tenure of loans shorter than ice vehicles leading to higher equated monthly instalments emis and limited financing options even though the government has introduced several measures like fame i ii productionlinked incentive pli schemes and more the countrys realisation of ev dreams still seems to be farfetched with major challenges yet to receive a solution the fame1 fame2 pli policies are steps in the right direction for the promotion of electric vehicles but if we require the industry to grow and match the scale of the already existing automobile industry the need is for many more such policies and manufacturing incentives for domestic component manufacturing by the central and state governments rishabh ahuja director of ingar electronics saidcountries like australia uk and the us are also addressing the matter of climate change through adoption of evs and have adopted several initiatives to provide adequate financing to the makers evs around the world have been subsidized and promoted into