India Electric Vehicle Motor Market: Industry Analysis and forecast 2027

Posted by ghodke 19 days ago (

Description: The intensity of impact will be much sharper on electric vehicles. Over 15 % of the dealers might go out of business. The only positive hope is that the people may move from public transport to private transport. On other hand the cost of Electric cars remains a main deterrent for their surge in a cost-conscious market in India. Electric three-wheelers which have the largest chunk in the electric vehicle market will also be hit owing to the concept of social distancing & the consumers concern for hygiene. Only affordable electric two-wheelers may find few customers going forward. This Impact could vary by segment wise like for delivery two wheeler, if electric, may pick up owing to higher focus on deliveries with fewer people going out. Buses, especially city buses which have higher EV penetration are mostly bought by STU's, so that market will be purely driven by the government’s propensity to spend in many states of the country. Other factors that might delay the electric vehicle penetration in India could be the pressure on the supply of key components for electric vehicles & skill gaps in labour.

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