Report Summary Determining Pug-in Opportunity for Value Chain Players & Evaluating the Change in Power Demand Scenario with Growth of EVs in India
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As automotive industry moves through second decade of the 21st century, dilemma over whether or not electric vehicles (EVs) in India will become a key part of the mainstream local car-buying market remains largely unchanged, though biggest disruption is anticipated by mid 2020’s
Government support & subsidies key to embelish ev markets in India – paradigm for successful endorsement shall be replacement of ice in phased manner from the country
Harping the focus on EV’s are ever tightening CO2 emissions regulations and the investment of billions in subsidies and incentives by governments around the world, encouraging greater industry participation and adoption in the marketplace, hence expected to be a no different in India either. By 2020, CO2 emissions will be regulatory limited at 95 g/km as an average value throughout the vehicle fleet, which means that distinct Bharat norms have to be placed for ICE drive trains in the country.
In order to outbalance the CO2 performance of cars with higher emission values, OEMs need to have zero-emission vehicles like the EV. The U.S. Government recently invested $5 billion in electric cars, including loans and grants to automakers and battery producers, spending on charging stations, and $7,500 tax credits to car buyers with the goal of having another one million EV’s on U.S. roads by 2020 post FY 2015. In addition, more and more global cities will become networked, integrated and branded smart cities, where electric vehicles can be ideally deployed in order to offer a better, cleaner urban mobility experience and help balance future smart electricity grids.
Although, GoI has announced initiative like FAME & NEMMP but penetration shall happen only when the end consumer is finds the EV as cost competitive with compatible charging infrastructure available publically in the country starting from tier 1 and tier 2 cities in a phased manner. Also, both forward and backward integration shall be key in terms of developing a robust electric vehicles market in the country by 2030. Having said that turning completely reliable upon eMobility by 2030 might be overambitious unless aggressive support environment for EV’s are established in the country.
KEY QUERIES ADDRESSED
BUSINESS CASE FOR ELECTRIC VEHICLES MARKET IN INDIA
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