The Future is Electric: Discussion paper on Electric Vehicles in India

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.

DOWNLOAD PDF SHARE REPORT

Key Findings

2/3 wheeler electric vehicles have witnessed high double-digit growth in the last 2years, however, e-4W has witnessed 150% increase in sales. Battery and charginginfrastructure markets are also expected to grow substantially, with the govt. providingspecific targets for EV adoption.

Reasons include risingfuel prices, increasing CO₂ emissions, EVs displacing oil, various govt. initiativesincluding schemes and subsidies, new charging and battery swapping policies, massive advancements intechnology, less total cost of ownership of owning an EV in the long run than a regular internal combustion engine (ICE) vehicle,and new models introduced by OEMsto cater to changing consumer preferences.

Not just automotive OEMs, but 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.

Some of the challenges include safety and fires, mileage and range,need for more players in the ecosystem, clarity from the govt. on subsidies, a commonelectric vehicle policy, targets, infrastructure, need for local manufacturing, talent,better battery, charging and vehicle technology, increased awareness and higher prices
Some of the recommendations include need for govt. to standardize safety rules, bring inmore incentives, create a scrappage policy for easy scrapping of e-waste, need tointegrate tech platforms with charging and battery infrastructure, need for more techcompanies to be present in the ecosystem to develop technologies and research,encourage more foreign investment by creating a robust ecosystem, and create moreconsumer awareness.

Download
this report

Regular Price: Free
Member Price: Free

Download report

Related Reports

NASSCOM-Deloitte Global Engineering R&D Pulse Survey 2022

It would be no exaggeration to state that the past two years were possibly some of the most challenging years for enterprises globally. Post pandemic, the Engineering Research and…

19, May 2022

Free for All

Engineering Research and Development Global Location Analysis

In 2020, the Covid pandemic affected all sectors of the economy and disrupted supply chain across the world. There have been drastic shifts in strategic priorities of the companies. In…

11, March 2022

Free for All

Technology Sector in India 2022 : Strategic Review

Each year, NASSCOM publishes it’s flagship report – the Strategic Review: The Technology Sector in India – that is considered the bible for the technology industry. This year’s edition…

15, February 2022

Paid