Electric Vehicle Segment
The electric vehicle industry in India is a growing industry. The central and state governments have launched schemes and incentives to promote electric mobility in the country and some regulations and standards are also in place. To Support the segment to grow and implement e-commerce companies, car manufacturers, app-based transportation network companies and mobility solution providers have entered the sector and are slowly building up electric car capacity and visibility.
Only natural products like food that get produced and consumed locally can be considered in the fully self-reliant space. In the case of EV, 100% self-reliance is not possible since we do not have all the raw materials that we require, or even if we do, that cannot be extracted economically yet. So, we can move towards self-reliance step-by-step and component by component.
The EV segment offers a huge business potential for Indian manufacturers across the value chain, which includes manufacturers, traders as well as service providers. Hybrid and plug-in vehicles can help increase energy security, lower fuel costs and reduce emissions.