Electric Vehicles in India – Prospects and Challenges
Driven by powerful environmental, macroeconomic and technological factors, the global transportation sector is undergoing a historical period of transition. New business models like Mobility as a Service and the increasing economic viability of technologies like Electric Vehicles (EVs) will soon reshape how we travel.
According to research by the International Energy Agency (IEA), the global EV parc has increased from just five thousand vehicles in 2008 to more than two million by 2016. This has been driven by key underlying trends including mounting environmental concerns, decreasing Lithium-ion battery prices and increasing availability of charging infrastructure. All this has led experts to predict a rapid growth in EV adoption in the next decade – current year on year growth projections range from 27% to 33% until 2030.
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