For much of the past two years, the dominant story about India’s electric vehicle transition has been a story about dependency. Batteries are imported, cell manufacturing is a decade or more away from scale, and critical minerals sit largely outside Indian control.
That framing is not wrong. But a new working paper from the International Council on Clean Transportation (ICCT) adds a number to the conversation that shifts its emphasis considerably: India could reduce its combined annual oil and battery import bill by as much as US$125 billion by 2050 through faster electrification of two-wheelers, three-wheelers, cars, buses and trucks, according to a recent report.
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