The Indian automobile industry is one of the largest growing markets of the world, and contributes highly in the country’s manufacturing facilities. Not only this, the automotive industry in India is further expected to pull up the share of manufacturing in India’s GDP to 25% by 2022 from 15% currently, with production of Electric Vehicles being new talk of the town. However, India’s electric vehicle industry is a newly born baby when compared with the other international markets such as US, China & Europe etc. which are way too matured. China, being the leader holds nearly 50% share of the global electric vehicle market during 2016, with India accounting to be an invisible industry participant having a share of 0.1%.
Key Queries Resolved
- What are the growth factors for EV market in India?
- What is the current manufacturing ability for PEV, HEV & BEV in India?
- What shall be the manufacturing status for PEV, HEV & BEV in India till 2030?
- What will be the state wise determination & benchmarks in India for electric vehicle adaptability till 2030?
- What will be the opportunities for smart grid players in electric vehicle market till 2030?
- What is regulatory and policy landscape for electric vehicles market in India?
- What will be the market size for HEV , PEV & BEV in India till 2030?
Business Case For Electric Vehicle Market In India
- The overall electric vehicle market for storage in India is likely to be 4.7 GW in 2022. Over 50% of the market in 2022 will be driven by e-rickshaw batteries
- 200 charging stations are proposed to be set up in Delhi , Jaipur & Chandigarh
- Delhi government launched a subsidy scheme of INR 30,000 for the E-Rickshaws in 2016
- Government is targeting of 6-7 Million electric and hybrid vehicle on road by 2020
- Smart charging company , new motion announced to invest INR 1000 crore in India on charging infra development