India – The 3rd Largest Car Market – Announces Only Electric Vehicles To Be Sold By 2030
India’s government just shocked the automobile and commodity marketplace.
They made the ambitious move in declaring that by 2030, all vehicles sold will be Electric Vehicles (EV’s).
The papers finalizing the policy could be signed by year end. . .
º India is known to be a power deficient country.
º For instance, they still produce over 90% of their electricity from coal.
º And this has made India one of the world’s most polluted places in the world.
º Many of their 1.3 billion population struggles with these problems daily.
There’s no doubt that this “Only EV’s by 2030” initiative is an ambitious move by the government to join the ‘alternative power’ countries.
But the real exciting part is this. . .
And these shortages are occurring without the 3rd largest car market in the world being involved.
Imagine how tight supplies are going to get now that they’re also rushing in to get their hands on these critical materials?
The trend is in motion.
And it is clear that the world economies are shifting from traditional gas-powered vehicles and into Electric Vehicle.