THE EV INDUSTRY IN INDIA IS EMERGING ON on account of various factors such as the growing awareness toward the environment, increasing petrol prices, and stringent emission norms, etc. The direction of EV industry development is to upgrade the E-mobility spec to meet the requirement of current mobility.
The government of various states have already sped up EV adoption, and that is going to further pave the way for acceptance of EV in India in all categories 2Ws, 3Ws, 4Ws, e-bikes and e-buses, etc.
The key triggers for wide adoption of EVs are multilevel policy support by the Centre and various state governments, rising awareness about environmental concerns among the general public, and the general demand for more energy-efficient ways to commute, for a country of 1.3 billion people. The massive market potential for EVs has encouraged many homegrown companies to scale up their R&D and EV manufacturing capacity. The design, efficiency, and other innovation in the EV space have also helped create a positive bias among consumers. According to a recent report, by 2022, most consumers in India would consider buying an electric vehicle.
This story is from the April 2021 edition of Manufacturing Today.
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This story is from the April 2021 edition of Manufacturing Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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