Abstract:

India has a vision of 100% electric vehicles by 2030, while around 40-45% EV conversion by 2030 is a realistic expectation. The Indian EV Industry is in its nascent stages with only 2 electric car manufacturers, about 10+ players in 2 Wheelers and 3-4 OEM’s in Electric buses. Most other auto OEM’s are now looking at introducing EV models in India. This report developed by Innovation Norway is to map the fast growing 'Electric Vehicles' sector in India. It highlights details of the Indian EV sector issues and presents an analysis on how to strategies the EV boom in the country. After interacting with various EV stakeholders from Norway and India, the report put together a list of opportunities that can be explored in this high growth market.