In 2020, governments worldwide implemented various strategies to promote the electric vehicle (EV) industry, aiming to reduce carbon emissions, enhance energy security, and stimulate economic growth. Key approaches included:
Many countries offered financial incentives to lower the upfront cost of EVs for consumers. For instance, India launched the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme, providing subsidies for electric two-wheelers, three-wheelers, and buses. Phase II of the scheme, initiated in 2019, continued through 2020 with a budget of ₹10,000 crore to support EV adoption.
Recognizing the importance of accessible charging facilities, governments invested in expanding charging networks. India, for example, set guidelines in 2019 to establish a charging station every 25 km along highways and major roads, facilitating longer-distance travel for EVs.
To drive innovation, governments funded research in EV technologies. The U.S. Department of Energy, for instance, supported research to improve battery performance and reduce costs, aiming to make EVs more competitive with conventional vehicles.
Some nations set ambitious targets to phase out internal combustion engine vehicles. Norway aimed for all new car sales to be zero-emission vehicles by 2025, demonstrating a strong commitment to EV adoption.
Governments launched campaigns to educate citizens about the benefits of EVs. In early 2021, India introduced the “Go Electric” campaign to promote electric mobility and electric cooking appliances, emphasizing energy security and environmental benefits.
To boost local economies and reduce dependence on imports, countries like China provided substantial subsidies to domestic EV manufacturers, fostering a robust homegrown industry that could compete globally.
These multifaceted approaches in 2020 played a crucial role in advancing the global EV industry, setting the stage for continued growth and innovation in the years to follow.
