Solar power, tidal power, hydro power, electric cars are only a few to point out. ICE-powered cars (Internal Combustion Engine) have become the bane of countries trying to eliminate carbon emissions.
Electric cars have risen again following the concept's dismissal. Cheap gasoline rates were at the centre of the dismissal of electric cars. However, Nikola Tesla had proposed that electric cars would be the future. Tesla's prediction has come a long way with electric cars slowly taking over the dominance of ICE-powered cars.
India has been at the centre of cutting emissions as it signed the Paris Agreement which states that countries a part of the Paris Agreement should reach carbon neutrality by 2050. India is pushing EVs for the population to adopt. While the adoption remains a challenge due to poor infrastructure, it is not slowing down the EV ecosystem.
"Electric vehicles (EVS) have been around for quite a while, but over the past decade, advancement and interest in the field have increased. Customers have an abundance of options now that both domestic and foreign automakers have introduced their EVS to the Indian market. The case for the adoption of EVS has been strengthened further by a desire to lower pollution levels and reliance on imported oil. More importantly, the Indian government has been providing incentives to encourage the use of EVS, including tax breaks and subsidies for EV purchases, which has accelerated EV penetration in the country," said Mridu Mahendra Das, cofounder and CEO, Automovill.
This story is from the March 2023 edition of Entrepreneur magazine.
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This story is from the March 2023 edition of Entrepreneur magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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