How will EV adoption affect auto component makers?
In its quest to turn back the clock on environmental damage and build a greener tomorrow, the world is slowly but steadily turning its back on polluting machines. And automobiles — which contribute over 24 per cent of the world’s direct CO2 emissions — are on the radar.
And that is the reason why electric-mobility is gaining traction across the world, and in India too. The electric vehicle market is projected to clock a compounded annual growth rate of 49 per cent between 2021-2030, and the annual sales are expected to cross 17 million by 2030, according to a report by India Energy Storage Alliance.
