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Thursday, March 23, 2023

Job prospects in the EV industry are expanding, women are rising to the top

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EVs and eMaaS are playing an important role in alleviating the country’s low female labour force participation by providing women with opportunities to grow and attain financial independence.

The labour force participation rate (LFPR) in India is now about 40%. In LFPR, we have the unpleasant distinction of being in the lowest percentile of established and emerging economies, ranking behind nations like Sri Lanka, Rwanda, and even North Korea. Clearly, this is not good for the country’s image, and given that we currently preside over the famous G20 forum, our LFPR, which is the lowest among G20 countries, has an influence on our standing among the member countries.

Reasons for poor LFPR

In India, the low women’s LFPR has maintained at 19.23% in 2021, down from 24.51% a decade before. According to experts, this is due to a lack of an effective, inexpensive, and efficient transportation medium that ensures a woman’s mobility in a safe and secure manner. This is harming the country’s overall prospects and bringing it down in this critical metric of labour participation.

Electric vehicles and eMaaS: A panacea for low LFPR?

Electric Vehicles (EVs), and especially Electric Mobility as a Service (eMaaS), play a significant role in tackling this issue. Training, accessibility, financing, and improving livelihoods via increased earning potential are the primary issues that a full eMaaS solution untangles for a woman looking to enter the workforce.

Orientation and training

For starters, women are not even trained to ride eBikes. Early on, collaborative efforts were undertaken in collaboration with socially committed organisations such as the Azad Foundation in New Delhi and MoWo Social Initiatives in Hyderabad, both of which are on a mission to put millions of women in the driver’s seat so that they can achieve economic prosperity and social mobility through electric vehicles. During these efforts, women were given eBikes, which was a first step towards guaranteeing that an entrance point for women to enter the gig or general employment is developed.

The Ease of Access

The most crucial elements in this article are that women confront a shortage of access to eBikes in many regions of the country owing to a lack of financial resources and socioeconomic characteristics. Furthermore, women who live in particular ‘pin codes’ in rural areas of Haryana, Uttar Pradesh, and other states are automatically tagged as ‘negative’ when banks, financial institutions, and other non-banking financial companies provide lending facilities (NBFCs).

Subscription Finance Provides Access to Finance

Women should not be discouraged from working because they lack financial resources. According to research, selling eBikes for a weekly, biweekly, or monthly subscription can assist overcome this accessibility issue. EV companies should also ensure that there are no delays in processing orders and that eBikes are ready within 24-48 working hours. Furthermore, the lack of a lock-in period gives women consumers more options and instills them with a new feeling of pride and independence.

Pride and Liberty

Through eMaaS, women have access to mobility and new-age EVs, which is a freeing and proud experience for them. This is especially true in traditional settings and societies where women are more linked with housework and childrearing. Women are increasingly embracing eBikes for commuting and other activities, allowing them to pursue new pathways of growth and opportunity in their lives.

The Function of Safety

EVs’ high safety and security features, such as being tracked at all times and sharing their whereabouts with family members, are assisting women in achieving equal possibilities. This gives women a sense of protection and security, allowing them to pursue possibilities.

Women’s Empowerment through eMaaS Business Model

Players in the EV industry must focus on eMaaS as the foundation of their business strategy, and secure preferential allotment of female riders to offer products and services to certain client segments. In the pharmacy business, for example, elderly persons purchasing medicine online feel safer if a woman rider delivers to their house, and pharmacies increase their image by delivering through women riders.

eMaaS and Women: Commitment to a Cause

EVs have long been associated with high-income families, but thanks to creative adoption models, they are also beginning to empower women in society. The eMaaS business must step up its efforts to broaden its reach and accessibility to women across the board. Administrators and lawmakers may also help by providing open and productive policy frameworks. Companies that provide cheap electric transportation to women should receive tax and duty concessions, as well as priority sector credit. This has the potential to generate equitable job possibilities for women in a variety of industries and enterprises.

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