India Electirc Vehicle Industry

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July 2019
India Light Electric Vehicle Industry
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OVERVIEW

1. Indian Light Electric Vehicle Industry

The Indian light electric vehicle market is
growing at a significant rate, due to the
promising government initiatives and policies,
increasing concern about environment pollution,
subsidies and rebate offered by the government
and increasing awareness among consumers for
electric vehicles. The public transport system
has pioneered to incorporate the electric
vehicles including electric buses and electric
rickshaws. For personal use electric two-wheelers
are gaining traction in India especially among
the younger population. The market is expected to
witness high demand for battery electric vehicle
in the coming years due to refining charging
infrastructure, government assistance in the form
of permits, supports, and tax rebates, decreasing
charging time and zero emission of carbon. In
2018, Indian government confirmed subsidies for
all type of electric vehicles. Faster Adoption
and Manufacturing of (Hybrid ) Electric Vehicles
II (FAMEII) scheme has been finalized in April
this year. As per the scheme, the government will
invest INR 5,500 crores ( USD 784 million) in
the next five years. The governing panel decided
that the subsidiary will be provided for all
kinds of electric vehicles including light
electric vehicles. To get a sample copy of the
Light Electric Vehicle Market Research Report,
please visit at https//www.vynzresearch.com/auto
motive-transportation/light-electric-vehicle-marke
t/request-sample
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NEWS DIGEST

• July 2019, NITI Aayog to channel more investments
  Into building EV infrastructure. It is estimated
  that USD 40 Bn investment needed on the EV
  batteries.
• July 2019, NITI Aayog to channel more investments
  Into building EV infrastructure. It is estimated
  that USD 40 Bn investment needed on the EV
  batteries.
• July 2019, The Federation of Indian Chambers of
  Commerce and Industry (FICCI) recommended some
  changes to be made to the FAME II scheme. These
  changes include incentivising battery swapping
  stations. The industry body reported that the
  incentives can be given to battery swapping
  stations just as it is being given to EV charging
  stations under FAME II.
• July 2019, The Federation of Indian Chambers of
  Commerce and Industry (FICCI) recommended some
  changes to be made to the FAME II scheme. These
  changes include incentivising battery swapping
  stations. The industry body reported that the
  incentives can be given to battery swapping
  stations just as it is being given to EV charging
  stations under FAME II.
• July 2019, The Indian government is focusing on
  using the petrol pumps for electric vehicle
  charging station to promote the EV use in the
  country.
• June 2018, According to a report by Reuters, the
  Indian Government is planning to mandate
  cab-hailing companies like Ola and Uber to
  convert 40 of their fleet of vehicles to
  electric by April 2026.

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NEWS DIGEST

• June 2019, The Andhra Pradesh State Road
  Transport Corporation (APSRTC) has come up with a
  proposal to deploy 350 electric buses in five
  cities in the state. The project is likely to
  cost ?7.64 billion (109.6 million) and will be
  initiated shortly with each bus expected to cost
  nearly ?21.8 million (312,841).
• June 2019, Olectra-BYD, a Hyderabad based
  electric bus manufacturer is actively scouting
  for land in north India to set up its second
  greenfield electric bus plant by 2021.
• June 2019, Telangana State Road Transport
  Corporation said a proposal for as many as 550
  buses was being worked out. In a bid to reduce
  carbon emissions, the Union Cabinet had in
  February cleared the proposal for Faster Adoption
  and Manufacturing of Electric Vehicles in India
  Phase II.
• June 2019, Union Minister of Finance Nirmala
  Sitharaman led goods and service tax (GST)
  council on Friday approved reduction GST on
  electric vehicle chargers to 12 per cent from 18
  per cent earlier.

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Industry Scenario

• India Electric Two-Wheeler Industry
• The Indian electric two-wheeler market is
  predicted to grow at 44.0 CAGR during the
  forecast period with its fleet size reaching
  633.9 thousand units by 2024. The Indian market
  is primarily driven by the as large population
  and supportive government regulations. Different
  products including e-scooters and e-bikes are
  majorly contributing to the electric two-wheeler
  market size in India. The market has witnessed
  significant demand for these products over the
  last few years with the increasing per capita
  income, increasing awareness for curbing
  vehicular emissions and development of smart
  cities.
• https//www.vynzresearch.com/automotive-transporta
  tion/india-electric-two-wheeler-market
• India Electric Three-Wheeler Industry
• The Indian electric three-wheeler market is
  predicted to grow at 45.2 CAGR during the
  forecast period, in terms of its fleet size. The
  Indian market is primarily driven by government
  support and subsidies, an entrance of new
  entrants in the market and the need for the
  alternative transport system to curb vehicular
  emissions. Passenger vehicles largely contributed
  to the Indian three-wheelers market.
• https//www.vynzresearch.com/automotive-transporta
  tion/india-electric-three-wheeler-market

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1. Primary Research

Industry Scenario
Which of the following segment will witness the
highest demand in the coming 5 years?
Which of the following factor is the most
impactful for EV industry growth in India?
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1. Primary Research

Industry Scenario
What are the key challenges before EV industry in
India?
How do you think of the Indian government
initiatives towards EV industry?
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nature and the figures displayed may not directly
depict the market size. The information contained
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