Electric Mobility In India

FOREWORD

The fight to protect the planet from the effects of climate change would not be impactful without the transition of the automotive industry to green electric vehicles. The Indian Government's focus on decarbonizing its automobile sector has been at the core of the growth of electric vehicle industry. The past few years have been an exciting time in the Indian electric vehicle industry. Market analysis shows that in the year 2022 alone the electric vehicle market in India grew by almost 223% with the addition of approximately 48,000 new electric vehicles. With favourable policies and incentives this figure is expected to grow further in the coming years.

The Indian Government's support to the EV 30@30 campaign could be the much-needed catalyst to the EV industry. In addition to new electric vehicle manufacturing companies, we also see traditional vehicle manufacturers foray into the electric vehicle space, thereby increasing the competition in the market