Abstract:

The alarming urban pollution levels are putting enormous pressure on the Indian automobile industry to switch from internal combustion engine vehicles (ICEVs) to zero-emission vehicles such as electric vehicles (EVs). Even though the Indian government recognizes and encourages the promise of electric vehicles as a safe mode of transportation, EV commercialization has yet to achieve the anticipated results. There are many hindrances to large-scale EV adoption, such as high initial price, driving range anxiety, lack of proper charging infrastructure, underdeveloped battery technology, etc. This study aims to evaluate the conducive factors for EV adoption and completes in three phases. In the first phase, supporting forces to EV adoption in India is explored using political, economic, social, technological, environmental, and legal (PESTEL) analysis, and capability needs for EV manufacturing business in India are identified in phase two using the people, process, technology, and finance (PPTF) framework. Finally, segment analysis is performed to find out the most profitable segment to foray into the current situation.