Frost & Sullivan Podcasts

Topic Discussed : Strategic Analysis of the Indian EV & Hybrid Electric Vehicle Market, 2017-2030Speaker: V Naga KarthikKey takeaways:Frost & Sullivan estimates approximately 1.4 million electric vehicles (EVs) will be sold globally in India by 2030, accounting for about 18% of the new vehicles market. EVs are expected to account for about 15% while FHEVs will have a share of about 4%By 2023, battery electric vehicles (BEVs) will maintain the lead position and are likely to account for about 34,000 units, followed by 16,000 FHEVs. However, towards 2030, the volume of EVs is expected to reach 1.2 million unitsAlthough the Government of India is not too keen on subsidies for Electric Vehicles, the focus is expected to remain on promoting renewable energy initiatives apart from incentivizing setting up of local manufacturing facilities for EV components such as batteries, electric motors and other peripheralsCustomer awareness and understanding of EVs limited; consequently only 49% of respondents wi