India is exploring the market acceptance and industry dynamics of the electric vehicles manufacturing and servicing sector, both are at an early stage, as domestic OEMs are just started launching EV models and the acceptance is growing slowly.

The government policies like rolling out new taxes and awareness about these vehicles will improve the interests significantly which will accelerate the segment’s profitability. Although India’s CO2 emission levels from electricity generation are the world’s highest, India also has improved renewable energy sources and has plans to achieve 100GW by 2022.

The government stated, the plan to replace 50% of the conventional vehicles by electric vehicles before 2030. Given the favorable condition, the demand for these vehicles will rise outstandingly as the current market occupies less than 1% of electric vehicles out of the total transport system. Globally Electric vehicles sector has made significant progress in several regions and countries as they passed the milestone of one million sales, in 2017.

Reports suggest that Global vehicle market will accumulate $570 billion by 2025. With demand rising and manufacturers ramping up production capacities, the market will continue to grow. Looking forward, India has a lot of market and industry to cover up and needs vivid investors and certain technology, service providers.
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• How to get a loan or raise funds?

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