We are thrilled to announce the release of our latest report, “Electric Mobility Ecosystem in India: Roadmap for the Future,” in collaboration with PHD Chamber of Commerce and Industry (PHDCCI) during the India EV Conclave 2024. This groundbreaking report sheds light on the current state, emerging trends, and future prospects of electric mobility in India, offering a comprehensive overview of the industry’s landscape.
The electric vehicle (EV) sector, along with alternative powertrains, represents a significant opportunity for India to address its growing emissions and reduce its dependency on imported oil and energy.
In recent years, there has been notable progress in policy development from both the central and state governments, with initiatives such as the Faster Adoption and Manufacturing of Hybrid and Electric vehicles (FAME), Phased Manufacturing Programme (PMP), Production Linked Incentive (PLI) scheme, and various State EV policies.
Furthermore, India’s EV supply chain is undergoing a transformative shift, moving away from heavy reliance on imports towards localized production of crucial components. Despite being in its nascent stage, there is a concerted effort from both the public and private sectors to establish a robust and self-sufficient EV ecosystem.
However, challenges persist, particularly in the realm of charging infrastructure development. While there has been notable progress in this area, there is still much ground to cover to meet the burgeoning demand and enhance existing infrastructure.
As we delve deeper into the future of electric mobility, several critical questions come to light.
1. Can India absorb the revenue loss from tax cuts once the vehicle segment has a 10% penetration rate?
2. Does PLI actually address the goals of domestic manufacturing?
3. Can the charging infrastructure be developed at the current rate and still meet future demand?
4. With this amount of financing available in India, can India draw in new buyers Post 10% penetration?
These questions underscore the need for long-term strategic planning and collaboration among all stakeholders to ensure the continued growth and sustainability of India’s electric mobility sector. At ElectreeFi, we are committed to driving this transformation forward and shaping the future of mobility in India.
Stay tuned for more updates and insights from the space of Electric Vehicle as we embark on this electrifying journey together.
