Good morning [%first_name |Dear Reader%],

It’s Shaswata again for Green Margins this week. 

Do you feel like we hear just a bit too much about electric vehicles (EV) these days? EVs this, EVs that… Don’t get me wrong, I understand why they get the attention they do. At this point, EVs are perhaps the only viable zero-emission transportation option available to us. And adoption is certainly accelerating—in 2022, EV registrations tripled across India, according to the Indian government’s Vahan database. 

But that doesn’t change the fact that they are still the priciest in terms of initial purchase costs, and charging infrastructure (while growing rapidly) remains nascent. We’re still only at the very beginning of the transition to fully-electric mobility. 

It’s a large gap to bridge, with us poisoning our air every second of the way. 

Kind of a perfect fit for a ‘stepping stone’ tech. 

Last week, alongside the headlines about EV sales crossing the one-million mark in the year ended March 2023, were two other developments: 

1. Sales of compressed natural gas (CNG) vehicles grew by nearly 50% in the year ended 31 March 2023, reaching over 650,000 units.