NEWS: Electric Vehicle Makers Seek Carbon Credit Consulting

Dispatch from SSC Intern Emilia Pramova

Based on their zero-emission claims, electric vehicle producers in India are actively seeking carbon credits. The manufacturers see this as a considerable revenue source but also as a significant green marketing opportunity.

Although the carbon credits and electrical vehicle markets are both at infancy stage in India, at least 3 electric scooter makers – including Hero Electric and Chennai-based Kabirdass Motor Company – have appointed consultancies to assess their carbon credit potential. Bangalore-based electric carmaker Reva is also in the process of joining in on the revenue and branding opportunity.

Hero has appointed a consultancy to assess its carbon credit potential and to facilitate clean development mechanism (CDM) registration under the United Nation’s Framework Convention on Climate Change. Meanwhile, the 29-member Society of Indian Electric Vehicle Manufacturers (SIEVM) is discussing a proposal to collectively work for acquiring carbon credits and the subsequent decision is to be announced soon.

Also Kabirdass Motor announced that they have entered into an agreement for a CDM project with Asia Carbon Emission Management India Pvt Ltd. The company expects that this action will account for up to 10 per cent of their revenues. Generally, it is estimated that an annual production of 30,000 electric scooters will help save 18,000 tonnes of CO2, which would earn a credit of 18,000 Certified Emission Reductions.

Learn more by visiting Carbon Offsets Daily.