How will EV segment see a boost in the coming months?
Rising fuel prices are pushing a lot of buyers toward electric vehicles. Electric vehicles in India have seen exponential growth in the last year or so. Still, the growth is slow when compared to other countries. But experts believe that this segment is expected to grow to a size of $150 billion by 2030 and attain a good market share. In today’s article, we will see how exactly will the electric vehicle segment see a major boost in the upcoming months in India.
Lots of new EVs launching
As mentioned above, the EV segment is expected to grow in the coming years. This change has been sensed by manufacturers and they are looking to launch their EVs. Tesla, the biggest EV manufacturer, has already set up its operations in India. Other manufacturers like Hyundai, Tata, Maruti are also planning to launch their EVs soon.
Electric vehicles in India – Long-range cars coming
Range anxiety has always been a major issue amongst electric car buyers. Most of the current electric vehicles are only useful for city usage. But things are changing with improvement in EV tech. Already we are seeing some cars with a range of over 400km. So we can expect range figures to improve in the upcoming months.
New affordable EVs
As mentioned above, manufacturers are looking to bring in new electric vehicles. But the biggest positive is that we are also seeing some affordable electric vehicles. Renault is expected to be working on the Kwid EV, which is expected to be the most affordable EV in India. Other manufacturers like Tata are also working on cars like the Altroz EV & Sierra EV which can change the game in their respective segments.
Electric vehicles in India – Improving charging infrastructure
Charging infrastructure is the key elements in the EV ecosystem. A good charging system will make you less worried about the range figures. Manufacturers and the government are collaborating on this to make charging stations easily available for everyone. This will certainly boost the EV segment in the upcoming months.
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