- Electrification as an attractive solution to growing levels of vehicle pollution in metropolises is of particular importance to India today.
- Former Power Minister Piyush Goyal announced the aspiration to not sell a single petrol or diesel car in the country by 2030
- Four technology-driven trends electrification, shared mobility, connectivity and autonomous driving are leading the automotive industry to an electric disruption
- The transition to EVs could be very quick in India. As seen in developed economies like the US and Germany, around 30% to 45% of vehicle buyers already consider EV as an option while choosing a car.
- Services in the sector are poised to grow by an average of up to 40% per annum globally.
- Globally, EVs could displace a demand of 2 million barrels of oil per day between 2025 and 2030.