Opinion | Electric vehicle ecosystem’s taking solid shape in India

Following the Paris agreement in 2015, India announced its commitment to reduce its emission intensity by 2030. However, it is going to be a herculean task, unless India goes the whole hog in adopting less carbon-emitting ways, especially in the automobile sector. If we see the numbers, India has a long way to go where electric vehicles (EVs) can play a big role.

For example, the number of electric cars grew by about 300% in the last decade. However, the absolute number is only around 4,000 electric cars on Indian roads, which is just about 0.1% of close to 3.5 million cars sold in the last year. The number shows that the EV ecosystem is yet to take shape. But when we see the half glass full, it also tells a story about the opportunity where automobile manufacturers can play a big role in filling the remaining half of the glass.

Essentially, India is a market that provides a tremendous opportunity in the EV space—just like it does in petrol and diesel car segments.