Electric Vehicle Market Outlook Report 2020

India has set a target of 30% electric vehicles on the road by 2030 and given that so far only 32% of states and UTs in the country have formulated policies regarding electric vehicle adoption, this is an ambitious target. 

Apart from the push from the government with various policies at the central and state level, the investor confidence towards EV startups is also on the rise, with a 3.2x surge between 2018 and 2019. Despite these positive developments, many questions surround the future of electric vehicles in India, given the state of infrastructure support and the unaffordability factor of electric vehicles. 

The latest report by DataLabs assesses this booming EV market in India, even as the electric mobility system takes steps towards maturity. Touching on the factors driving the supply and demand side, the report showcases the current challenges, trends and investor confidence in this sector.

External Data Partner: Clootrack

 

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Highlights Of The Report —


The Electric Vehicle Market Outlook Report 2020 carries deep analysis of the impact that the electric revolution has had on the world's fourth-largest auto market in the world, with approximately 21 Mn automobiles sold annually.


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83% Negative sentiments towards slow charging by Indian consumers

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$601 Mn Raised by Indian EV startups between 2014 to 2019

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70% Market share in commercial vehicles by 2030

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Tata Nexon EV the most popular electric vehicle

Electric Vehicle Market Outlook Report 2020

Table of Content


  • Scope Of The Report - 03
  • Executive Summary - 04
  • Introduction - 05
  • India’s Automobile Sector: An Overview - 06
  • The Electric Vehicle Market In India - 13-18
    • The Market Size
    • Commercial Vs Personal
    • Types of Electric Vehicles in India
  • The Electric Vehicle Startup Landscape - 19-29
    • Startup Overview
    • Investment Statistics
    • Categorical Split Electric Vehicle Startups
    • Active Investors
  • EV In India: The Consumer Side Of The Story - 30
  • Factors Driving Electric Vehicle Market -39
  • MarketElectric Vehicles: How Is India Buying? - 45
  • Global Comparisons - 50
  • The Underlying Problems - 60
  • Policy Measures and Recommendations - 65
  • Case Studies - 77 -82
    • Hybrid Vehicle Vs Electric Vehicle
    • Are Electric Vehicles Taking Over The Traditional Automobile Sector?
  • Future Trends In The Electric Vehicle Market - 83
  • Methodology - 86
  • Glossary - 87
  • Bibliography - 88

Executive Summary


India’s craving for clean mobility has grown immensely in the past three-four years. The central government aims to achieve 30% EV penetration in automobiles sales by the year 2030. Despite capital inflow being on the rise, domestic technological advancements in the EV sector are way behind global peers.

This DataLabs report focusses on assessing the current market conditions for electric vehicles and clean mobility along with a feasibility study on how close India is to fulfilling it EV ambitions, from the point of view of customer adoption, development of infrastructure and R&D in technology. To understand market expectations, we analysed customer sentiments in the context of current developments in the EV sector and concluded that factors such as brand equity score of industry players, vehicle capabilities determine the expectations of Indian consumers.

Overall this report is a deep dive into the booming electric vehicle market of India from the consumer and business perspectives.

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