India Electric Vehicle Market Demand, Investment Feasibility, Forecast to 2030

1. 2022 India Electric Vehicle Market Opportunities, Growth, Challenges, Business Trends and Forecast 2030

2. In April 2019, the Indian government launched Phase 2 of the FAME India scheme with a total investment of INR 10,000 crore; phase 1 of the Fame India scheme was launched in 2014 with an investment of INR 795 crore, which was later increased by another hundred crores. The funds are being used to subsidize electric vehicles (EV) in the country, so that the problem of air pollution can be tackled. As per P&S Intelligence, government support is vital for the Indian electric vehicle market, as without it, EVs would be out of the reach of the masses. Compared to the long-proven internal combustion engine (ICE) technology, electric propulsion is slightly cost-intensive to achieve. This is majorly because of the high cost of batteries, which makes the overall EV expensive. Moreover, the vehicles also need to be equipped with a high-voltage charging mechanism, which further escalates the purchase cost. This is why the government is not only offering purchase subsidies and tax rebates on EVs, but also bearing a major portion of the cost for research and development (R&D), to come up with cost-effective EV technologies. Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/india-electric-vehicle-market/report-sample

3. Seeing the success of e-rickshaws and potential customer base for other EVs, a lot of companies have entered the Indian electric vehicle market, including Lohia Auto Industries, Hero Electric Vehicles Pvt. Ltd., Electrotherm (India) Ltd., Saera Electric Auto Pvt. Ltd., Ather Energy Pvt. Ltd., Okinawa Autotech Pvt. Ltd., Tata Motors Ltd., Mahindra Electric Mobility Ltd., TVS Motor Co. Ltd., Toyota Kirloskar Motor Pvt. Ltd., Olectra Greentech Ltd., Terra Motors Corporation, and Ashok Leyland Ltd. They are signing sales agreements not only with public transportation agencies, such as Delhi Transport Corporation, but also private shared mobility companies, including Uber and Ola, to increase the penetration of clean-energy automobiles. Hence, bolstered by government support, sales of EVs in India will definitely pick up in the coming years. Browse more related reports by P&S Intelligence : India Electric Rickshaw Market Key Trends And Opportunity Areas by Leading Players Electric Scooter and Motorcycle Market Emerging Opportunities, And Top Key Players By 2030

4. This study covers 1. Historical and the present size of the India Electric Vehicle Market 2. Historical and the present size of the market segments and understand their comparative future potential 3. Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings 4. Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders 5. Major players operating in the market and their service offerings

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