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EV adoption in India is happening at a faster pace than you think

 

EV adoption in India is happening at a faster pace than you think



Demystifying the India electric vehicle (EV) ecosystem


In May 2023 Simple One launched India's longest-range electric scooter with 212 km of range as verified by Automotive Research Association of India (ARAI)

India is having a remarkable transformation. EV registrations in the country surged from 1.25 lakh units in 2020 to 10.25 lakh units so far in 2023. This significant change was also highlighted in the 2022-23 Economic Survey in which the government set ambitious goals for the Indian EV market.


The behaviour of today's consumer plays a pivotal role in shaping the automotive landscape. Sustainability now stands among the top five criteria for a consumer to make the purchase decision, along with factors such as safety, brand reputation, and cost. This transformation is fuelled by heightened environmental awareness, spurring interest in EVs, and other sustainable transportation options.
renewable energy production, further reducing environmental impact and enhancing cost-effectiveness.

Way forward

The EV landscape in India is maturing at a rapid pace due to evolving consumer preferences and strong government support. EVs are not the future anymore; they are the present. It's the right time to embrace them for sustainability, cost efficiency, and advanced tech. This trend is set to further grow and position India’s EV market as one of the largest in the world, propelled by the growing demand for eco-friendly transport and the government's efforts to promote EVs through incentives and infrastructure investments.

However, expanding charging networks and improving accessibility is vital. Furthermore, advancements in battery tech are crucial for improved performance, range, and charging speed. Affordability will continue to attract a broader consumer base. Collaborative efforts among the government, industry stakeholders, and research institutions need to continue to overcome these challenges and drive sustainable EV adoption.


Business News/ Opinion / Blogs/ EV adoption in India is happening at a faster pace than you think
EV adoption in India is happening at a faster pace than you think
2 min read
14 Jun 2023, 07:15 PM IST
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In May 2023 Simple One launched India's longest-range electric scooter with 212 km of range as verified by Automotive Research Association of India (ARAI).
In May 2023 Simple One launched India's longest-range electric scooter with 212 km of range as verified by Automotive Research Association of India (ARAI).


Let’s start with some good news. Our estimates for 2W, 3W and 3W sales have been 77%, 96% and 68% accurate! However, in some instances, we have rationalised our EV sales projections across some segments due to feedback from the ground.

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