The front seat in electric mobility Updated: Updated: January 11, 2021 00:10 IST The lithium and cobalt industry are likely to grow domestically to support the switch to electric vehicles Share Article AAA The lithium and cobalt industry are likely to grow domestically to support the switch to electric vehicles The progression to electric vehicles is important for India because such vehicles are sustainable and profitable in the long term. Reducing dependence on crude oil will save the government money, reduce carbon emissions, and build domestic energy independence. Besides being an economically and environmentally viable option, India’s transition to electric vehicles will allow us to fine-tune our infrastructure. This will also influence India’s foreign policy as our energy security dependence will shift from West Asia to Latin America. India imported 228.6 MT of crude oil worth $120 billion in 2018–19, which made it the third-largest oil importer in the world in terms of value.