Electric Vehicle Future in India

EV Industry in India
EV Charging Station

Electric Vehicle (EV) and It's Future in India- CHARGE+ZONE

Today, the world faces many climate and climate change issues as it is a global issue, and sustainability has emerged as a viable answer for a secure future. The government is looking forward to setting up a sustainable solution. Here, EV (Electric Vehicle) comes into the picture as new technology and invention enable the journey towards a clean, green, and sustainable future. Our country is on its way to meet its obligations under the Paris Agreement 2015, becoming the first G20 country to do this. India's ability to meet its 2030 climate goals will depend on concerted efforts to produce sustainable energy and decrease greenhouse gas emissions.

India's electric vehicle market increases with 100 percent of FDI available, with new production centers and an increased potential to improve charging infrastructure. Federal subsidies and policies that offer deeper discounts to Indian-made electric vehicles and a boost in local ACC battery storage manufacturing are other factors driving the Indian EV market.

What are the opportunities for India?

India spends almost 5 to 6 crores annually behind fuel. Reducing fuel consumption is not only crucial for the environment but also economic growth. Over a third (33%) of pollution in cities comes from vehicles. India can save billions of dollars by reducing its fossil fuel consumption and getting a cleaner, greener future. Electric vehicles will lead the way to an emission-free age. They will reduce pollution by one-third and oil imports by almost 20%.

China is the largest EV market globally, but India is fast becoming the preferred destination of automakers. The government has committed that they will support the electric vehicle industry in every way possible. India's automobile industry is fifth in the world, and the target is to become the third-largest by 2030.

India is currently working on switching to electric vehicles. Tesla, the world's biggest electric vehicle manufacturer and clean energy producer, announced its expansion recently to India. The EV concept will see a profound change in the coming years due to the rising fuel prices, and people are also looking forward to sustainable solutions.

2021 will be recognized as the year that the electric vehicle revolution took place. Electric 2 Wheelers is leading the charge in India's EV market. Many potential companies in this industry are working on E2W models to endure all India's mobility restrictions. To address the problems of the EV segment, companies are also partnering.

Charging Point Operator (CPO) play a significant role in India's rapidly developing Electric Vehicle Industry. Businesses have many opportunities with the new business models and charging infrastructure. They can also generate new revenue streams using digital technology of advertising platform in chargers. Here is where CHARGE+ZONE comes into the picture.

Electric mobility may be the solution to India's transition from fossil-free communities based on the current global and local developments and a close examination of the lessons learned by thought leaders. Although many obstacles exist, people are shifting to EV and surely will succeed in the coming years.

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