India’s double rush for electric vehicles and oil refineries4 min read . Updated: 25 Apr 2018, 10:40 PM IST
A successful switch to electric vehicles, coupled with strategically increased refining capacity, could be both a geoeconomic and geopolitical manoeuvre
Last year, India announced its bold intention of electrifying the nation’s automobile fleet by 2030. The reaction has been mixed—electric vehicles (EVs) are enticing to customers and strongly supported by environmentalists, but automakers and fuel suppliers are not fully on board. The eco-friendly and cheaper operation of EVs can help lower local air pollution and out-of-pocket costs for increasingly expensive petrol and diesel. These benefits are countered by higher upfront costs of the cars themselves and the long lines and need for more charging stations.
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