Before Covid hit the world, there was a steady growth in the adoption of electric vehicles across the globe and more so in India. However, saying that sales of electric vehicles have increased monumentallyin the past two years would not be an understatement. Electric vehicles, whether electric 2/3/4 wheelers or others are quickly becoming a mainstay. Automotive OEMs as well as tech system integrators have also become an integralpart of the ecosystem, designing and manufacturing various components. In addition,tech startups have also developed many solutions and platforms in electric vehicleecosystem.
This discussion paper titled “The Future is Electric” explores the rationale behind the increased use of electric vehicles in India, the overall architectural deep dive of EVs, the players present in the ecosystem, ranging from the traditional auto OEMs and tier 1s to tech system integrators and tech startups, and the various challenges that everyone across the ecosystem is facing as well as recommendations to further create a more robust ecosystem and scale up the adoption in India.
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