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