Call for Electrification to drive India Electric Vehicles Market
India Electric Vehicles Market Dynamics
India Electric vehicles Market, by technology, spans battery electric vehicle, plug-in hybrid electric vehicle, hybrid electric vehicle. Power source-wise, it’s on-board electric, generator, and stored electricity. By type of vehicle, it’s commercial vehicles, passenger cars, two wheelers, and likewise (golf carts). By powertrain, it’s series, parallel, and combined. Out of these, on-board electric holds the largest market share. Persistence Market Research, with its team of analysts and consultants, has sketched every detail with subsequent courses of action its latest market study entitled “India Electric Vehicles Market”.
What is trending?
e-Commerce companies (like Amazon) are taking initiatives for using e-Mobility for ensure last-mile deliveries for curtailing carbon footprint. Countries like India are seen introducing e-Mobility in public transport. It has deployed the electric intercity buses across various major cities. Coming to the latest trends, Kerala is aiming to put close to 1 Mn EV units on road by the year 2022 along with 6K e-buses regarding public transport by the year 2025. Telangana’s agenda is that of having sales target for EVs for the year 2025 for achieving 80% 3- and 2-wheelers (auto-rickshaws, scooters, and motorcycles), 70% commercial cars (ride-hailing companies like Uber and Ola), 30% private cars and 40% buses. Persistence Market Research has highlighted these facts with insights in its latest market study entitled “India Electric Vehicles Market”.
The Competitive Aura
Persistence Market Research has profiled the key players in India Electric Vehicles market as Mahindra & Mahindra Ltd., Maruti Suzuki India Limited, Toyota Motor Corporation, AB Volvo, Tata Motors, Ashok Leyland, Hero Electric Vehicles Pvt. Ltd., Honda Motor Co., Ltd., Bayerische Motoren Werke AG, Avon Cycles Ltd., Lohia Auto Industries, Electrotherm (India) Ltd., Yamaha Golf-Car Company, Club Car LLC, Speedways Electric, Maini Material Movement Pvt. Ltd., Auto Power, Carrieall Car Private Limited, Ampere Vehicles Pvt. Ltd., Tunwal e-Vehicle India Pvt. Ltd., and likewise.
Persistence Market Research has moved further with highlighting the developments in this regard. For instance – Ather Energy Pvt. Ltd., in January 2020, did announce intentions of building a 400K-sq. ft. factory at Hosur (Tamil Nadu). The expected output is 1L units. As of now, it has a manufacturing plant at Bengaluru (Karnataka) with capacity of 25K units. The basic objective behind this extra facility is that of catering to growing demand for the electric two-wheelers all across India. Also, Okinawa AutoTech Pvt. Ltd. did invest US$ 28.4 Mn for the second production plant in May 2019. Yearly output that is expected is 10L units. The location would be Rajasthan.
The other developments mentioned by Persistence Market Research include expansion of Tata Motors’ portfolio of electric vehicles in August 2021 by unleashing the new-fangled Tata Tigor EV. It does receive loads of design updates using Ziptron technology, thereby ascertaining better performance in comparison with outgoing model. Also, Olectra Greentech, in July 2021, did announce that it, along with Evey Trans Pvt. Ltd. (its sister-concerned company), acquired the bid to deliver 100 electric buses to a State Transport Corporation (STC) under the Government of India’s “FAME-II” scheme, that too, on the basis of OPEX model for close to 12 years. These buses would be addressing intercity operations.
To list further, Persistence Market Research has entailed about Ather Energy moving its factory worth US$ 86.5 Mn to Hosur (Tamil Nadu) from Bengaluru (Karnataka) for enhancing the two-wheeler manufacturing capacity. Besides, JBM Auto, in February 2020, did come up with 2 electric buses, namely e12 and e9 electric buses at Auto Expo 2020. These buses are capable of running 125-150 Km in a single charge, that too, powered by fast-charging lithium batteries. The Department of Heavy Industries (DHI) of India, in January 2020, did approve 2,636 electric vehicle charging stations in 24 Indian states across 62 cities under the 2nd phase of FAME program for promoting e-mobility.
Planning Forward? Access Sample of India Electric Vehicles Market Report @ https://www.persistencemarketresearch.com/samples/20800