EVs are here to stay. I bought a TATA Nexon EV 3 months ago. Drove around 3000 km for around Rs.3000. Beyond the obvious economics behind the EV it’s smooth, silent and zippy. With govt subsidies, prevailing low rate interest loans, tax breaks I think the EV market is going to explode.
Excerpt from the article : The company is targeting an annual revenue run rate of $3 billion in two years and also expects to be the first EV startup to break the mould globally by going for an IPO backed by EBIDTA positive financials.
Growth in demand for petrol and diesel combined will likely decline to 1.5 per cent per annum this decade, compared with 4.9 per cent in the last, because of increasing blending of ethanol with petrol, and rising usage of vehicles powered by compressed natural gas (CNG) and electricity (EVs), according to CRISIL …
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I personally think the EV space will surprise us all and will beat these estimates by crisil easily.
Interesting. I’m from the mechnical engineering background and I can confirm that lot of interesting developments are happening regarding electric vehicles.
The industry will surprise us positively as majority are expecting atleast 10-15 years more for transformation but I think it should happen much earlier than that…maybe in 5-6 years we will be seeing complete change from current scenario
Im personally expecting an announcemnt from maruti soon regarding this. even though they are late entrants to EV space. im expecting maruti to come up with interesting product mix with hybrid and EV theme
Basically, the incentive is provided in the form of subsidies to manufactures of electric vehicles and infrastrcuture providers of electric vehicles.
FAME was launched by the Ministry of Heavy Industries and Public Enterprises in 2015 to incentivize the production and promotion of eco-friendly vehicles including electric vehicles and hybrid vehicles.
The Scheme operates in two phases.
Phase I: started in 2015 and was completed on March 31st, 2019.
Phase II: started from April 1st, 2019, will be completed by March 31st, 2022.
ONLY If there are More incentives in next phase which is after march 31st 2022 , then people are going to buy more EVs …??
As Nithin Gadkari ji said “EVs are going to cost as normal as Petrol vehicles in coming years”.
Excerpt from the article : Bentley has confirmed its first electric car will roll out in 2025. They’d also announced in 2020, to make its entire lineup up plug-in hybrid or all-electric by 2026, with a switch entirely to all-electric vehicles by 2030. #clean-energy