Exploring the future of electric vehicle batteries
The landscape of electric vehicles (EVs) has witnessed an unprecedented surge in recent years. Post-COVID, subsidies (such as the FAME II scheme) and various state policy incentives drove substantial growth in the passenger, private, and commercial segments across India. Despite the COVID-19 slowdown, the industry has been picking up relatively faster than before. Cumulative EV sales, led by the two and three-wheeler segments including passenger vehicle and commercial vehicle sub-segments is headed to touch 1.5M units in 2023. Even with these exponential figures, it’s essential to acknowledge that we’re merely scratching the surface of large-scale EV adoption.
