Present and Future Trends of Electric Vehicles in India

Abstract

The electric vehicles market in India is making significant progress in terms of environmental sustainability. Various new car companies are revolutionizing the industry by introducing innovative models. The interest in electric vehicles is rapidly growing, and with the introduction of new pricing models, the market is expected to expand even further. Recognizing this shift, existing car manufacturers are striving to unveil new hybrid or electric vehicle models. Developed countries such as the UK and France have already announced plans to ban the sale of diesel and petrol cars by 2040. Experts predict that Europe will witness a complete transition to electric vehicles five years prior to the deadline. This transformation has led to increased commitments and competition among leading car manufacturers and businesses in the automotive industry. Norway, for instance, is experiencing remarkable progress in the electric vehicles market, with nearly 30% of new car sales in December 2017 being electric battery-powered vehicles. Energy experts anticipate that China and India will drive the demand for electric vehicles, as these countries prioritize the development of low-carbon emission transportation solutions. In response to the growing industry, many companies are planning to introduce electric vehicle charging points to support the increasing demand for electric vehicles.