Electric vehicles (EVs) are a promising and proven technology for achieving sustainable mobility with zero carbon emissions, very low noise pollution, and reducing the dependency on fossil fuels.
Global EV sales have been increasing by ~110 % since 2015, with a significant rise in 2021 (~6.75 mils EV registered) mainly led by China, the US, and Europe, amplifying the EV market share to 8.3% compared to 4.2% in 2020.
Future developments aimed at designing better batteries and charging technologies that reduce charging time, reduce initial battery cost, and increased flexibility. In India, EVs are emerging significantly due to stringent Carbon di Oxide (CO2) reduction drives, increasing crude oil prices, and the availability of cheaper renewable energy.
Leveraging government promotional policies, evolving the entire ecosystem, globally advantageous manufacturing costs, and competitive engineering skills form the perfect blend for India. To produce world-class EVs to complement the “Make in India” drive and make India the leading EV engineering and manufacturing hub for global markets.
This paper reviews India’s EV market potential with a key focus on the EV ecosystem, including EV commodities infrastructure, supplier plans, and government initiatives to enhance EVs in India with statistical data and reports from research papers.
