India aims for 100 percent electric cars

India India has a grandiose vision for its 1.2 billion people to drive only electric vehicles already by 2030. The Indian government is working on a scheme to provide electric cars on zero down payment for which people can pay out of their savings on expensive fossil fuels.

And the country has no time to waste to tackle its pollution problem as its capital, New Delhi, already has worse air quality than Beijing. And that’s not even the most ambitious part — the government thinks it can do it without spending a dime.

“We are trying to make this program self-financing,” Power Minister Piyush Goyal said recently at a youth conference, according to The Times of India.  “We don’t need one rupee of support from the government. We don’t need one rupee of investment from the people of India.”

Goyal noted that a small working group of politicians will meet in early April to hammer out the details of the goal, which could include a program to incentivize buying electric cars by making them zero-down investments. Later on, the money the car owners would have spent on gas could go to paying off the price of the vehicle, according to Goyal.

As far as number of cars owned per household, India ranks low, with just 6 percent of households reporting they own a car. But that number is expected to grow exponentially as the economy expands.

India aims to become 100% e-vehicle nation by 2030: Piyush Goyal

Related content