Effects of the climate change are being felt worldwide. The world had witnessed record levels of pollution in the last decade and with levels going upwards, there was a firm need of change. Tesla and Elon Musk started the rejuvenation of the electric vehicles long after it was initially proposed by Nikola Tesla. However, the launch of Tesla kickstarted the time for electric vehicles. Internal combustion powered- vehicles have long been the reliable mode of transportation. The subsequent emergence of EVs has been a game-changer for the environment since it is significantly cleaner than its petrol-powered counterpart.
GROWING STRONGER
The Indian EV sector has witnessed $3.7 billion worth of private equity and venture capital investments over the past few years with the numbers set to increase. The value chain revenue pool of the Indian EV Ecosystem is said to be in a range of $76-$100 billion. According to a report by Bain and Company, 35 to 40 per cent of all vehicles sold in India by 2030 would be EVs, an increase from two per cent penetration rate in 2022. To boost adoption of EVs, the Union government as well as a few state governments are setting up incentives including the Faster Adoption and Manufacturing of Electric and Hybrid Vehicles in India (FAME-I and FAME-II) incentives which are becoming a major factor for the faster EV adoption. Other incentives include production-linked incentive (PLI) and Goods and Services Tax (GST) rate cuts and road tax waivers.
NEW SAFETY STANDARDS
Denne historien er fra January 2023-utgaven av Entrepreneur magazine.
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Denne historien er fra January 2023-utgaven av Entrepreneur magazine.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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ROAD TO REGULATIONS
While ensuring safe and legal usage of Al, Indian parliamentarians call for a breathing space for startups to grow in
What It Takes To Run A Family Business
Assimilation involves role clarity, accountability trackers, quarterly dialogues, industry leader mentorship and external work experience
I Know Why Your Customer Service SUCKS
That's because I left my high-paying executive job, worked five low-wage frontline jobs, and experienced the problem firsthand. Here's what I learned about fixing it.
The Hire That Changed Everything
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An Empowering Coin
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Plans To Expand Presence Its India
To cater to its new segment, MediaTek is increasing its engineering presence and R&D development in India, says Anku Jain, MD, MediaTek India.
India Needs Homegrown Product Companies In Semiconductor
CADENCE DESIGN'S INDIA MD
GROWING WATER SCARCITY IN INDIA REPRESENTS AN OPPORTUNITY FOR NEW AGE START-UPS
The way in which India manages its scarce water resources accounts for much of its water woes.
Google's Shocking Surge in Carbon Emissions Sparks Industry-wide Sustainability Reassessment
According to International Energy Agency, (IEA), Global energy-related CO2 emissions grew by 0.9 per cent or 321 Mt in 2022, reaching a new high of over 36.8 Gt.
EV Industry Lauds UP Govt's Decision On Strong hybrid Vehicles
This comes after the Uttar Pradesh government had announced a threeyear exemption from tax and registration fees for the purchase of EVs which will be valid for five years for EVS manufactured within the state, last year.
