Resumen
Transport sector is one of the largest contributors of energy related greenhouse gas (GHG) emissions globally and is expected to grow 50 percent by 2050. Controlling GHG emission growth of transport sector is necessary in view of limiting the global temperature increase to below 2 degrees Celsius, agreed under Paris Agreement, to avoid extreme Climate Change effects. Further analysis reflects that Electric Vehicles (EV) have great role to play in limiting transport sector emissions. In view of various environmental, climate change and human health related benefits, electric vehicles (EV) is witnessing an increasing trend across the globe, specifically in the developed nations. However, the economics of electric vehicles as well as the physical issues such as charging infrastructure, dependence on grid connected power etc. put a constraint on the fast growth of such vehicles in both, developing and developed economies. Although the Asian developing economies typically have highest growth rate in terms of vehicles usage but due to economic or physical challenges they are unable to deploy the electric vehicles at a swift pace. The principle advantage of battery based electric vehicles is that they are zero-emission at point-of-use. It provides local environmental benefits including cleaner air and reduced noise in urban areas. Overall, EV contributes for the sustainable development of the transport sector and many developed countries have adopted such vehicles on a large scale. Global EV sales were 462,000 during 2015 and it is estimated that EVs will constitute 35% (41 million) of new car sales by 2040. According to the IEA estimates, the US (39%), Japan (16%) and China (12%) are currently the prominent EV stock holding markets globally. This paper includes discussion on various socio economic and environmental benefits of the electric vehicles along with the challenges of its promotion in the developing economies. Further, the paper will also cover the various models for socializing electric vehicles and better adoption as well as policy and other enablers that are crucial for its promotion.