India’s dedication to environment-friendly transport and lower carbon emissions is fuelling the country’s e-mobility sector and its rapid rise. Electric Vehicles (EVs) are in high demand, and the e-mobility industry has enormous potential for both economic growth and environmental preservation.
A report by IEA states that Electric car markets are seeing exponential growth as sales exceeded 10 million in 2022. A total of 14% of all new cars sold were electric in 2022, up from around 9% in 2021 and less than 5% in 2020. Three markets dominated global sales. China was the frontrunner once again, accounting for around 60% of global electric car sales. More than half of the electric cars on roads worldwide are now in China and the country has already exceeded its 2025 target for new energy vehicle sales.
In Europe, the second largest market in the world, electric car sales increased by over 15% in 2022, meaning that more than one in every five cars sold was electric. Electric car sales in the United States, the third largest market in the world, increased by 55% in 2022, reaching a sales share of 8%.
In this article, Efficient Manufacturing vies the current market situation of the e-mobility industry in India and evaluates the difficulties encountered in the supply chain as well as import and export into account with the help of some prominent industry leaders in the field...
Divya Ramraika,
"Managing Director, Star Engineers
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