Abstract:

The proposed study aims to develop an understanding of the challenges that are limiting the adoption of electric vehicles in the country and suggest measures to address them. The study will focus on bringing forth the perspective of the consumers in terms of their preference and willingness to pay, perspective of the industry focussing on challenges faced in terms of their manufacturing capabilities and resource availability. Cost being a key barrier, the study will identify suitable business and financing models for different vehicle segments, as these are considered critical to the growth of electric vehicle market. The study will also present policy direction and how it is impacting the growth of electric vehicles in the country. Based on this knowledge, the study will identify vehicle segments that can be leveraged to enable faster adoption of electric vehicles in the country.