"As the world grapples with climate change and environmental concerns, India has embraced the vision of a greener and cleaner future. With consumers becoming more environmentally conscious, there has been a substantial increase in the adoption of electric cars and two-wheelers. The net worth of the Indian electric vehicle market has soared significantly, with a compounded annual growth rate of 49%, indicating a growing interest and investment in this sector.
The discovery of 5.9 million tons of lithium found in Jammu and Kashmir is great news for the future of electric vehicles in India. This discovery will reduce the dependency of India on lithium imports bringing down the manufacturing costs of e-vehicles in India. This has resulted in an upswing of EV manufacturers and startups trying to establish their presence in the market.
‘Is India ready for electric vehicles?’ is the question on everyone’s mind and we will delve deeper into that question in this guide providing a complete picture of the future scope of electric vehicles in India.
Electric Vehicle Share Market Trends in India
The Indian electric vehicle (EV) market has been witnessing significant growth in recent years due to increasing environmental awareness, government incentives, and technological advancements.
The electric Vehicle market is expected to touch 70% of the commercial vehicle market by 2030 aligning with the mission for net zero carbon emissions by 2070..."
https://www.cheggindia.com/earn-online/electric-vehicles-future/