MARCH 20238stimated to reach $15,397 Billion by 2027, the Indian Electric Vehicle (EV) market is housed by various small and large startups. The startups are offering a bagful of services including sustainable mobility, energy infrastructure, commercial mobility, and battery management system among the startups in action. The solutions and services are offered to the general masses and other organizations.Main Cause of EVs & GrowthEV startups are in addition working as a growth catalysts serving the sectors of FMCG and Logistics. The main cause of investment for EVs is Global Warming which is affecting the planet, where countries are finding solutions in terms of minimizing the usage of greenhouse gas emitting transport vehicles. Governments and startups are playing a vital role in diminishing the effects of global warming. The startups in India have been playing a major role in fighting the global warming effects and are placed in third position after the United States and China. With pollution from vehicles as a major cause of global warming, clean mobility is playing a big role in fighting as many Indian EV startups such as Ather Energy, Altigreen, BOLT, and Baaz Bikes are manufacturing sustainable solutions. According to the Department of Promotion and Internal Trade (DPIIT) in 56 diverse sectors, more than 4500 startups are helping in the development of emerging technologies such as the internet of things, artificial intelligence, analytics, and more. The number of EV startups in India grew to 72,993 in 2022 from 471 in 2016 and the startups are offering gallop of services in addition to sustainable mobility which includes energy infrastructure, commercial mobility, battery management, general masses and thereby helping in the reduction of carbon emissions by offering alternative fossil fuels. The projected growth of the automotive sector will be caused by electric vehicles and by 2030, India targets to become a 100 percent EV nation. As per a report published by Global Investment Firm Credit Suisse, electric scooter sales in India touched a new high of 3.3 percent in February 2022 and it is a jump of 1.9 percent from January, directing to higher adoption of electric scooters in the country. Electric vehicles are considered to be the niche vehicles in the grand scheme of the automotive industry, pumping out millions of cars per year. The startups are gaining recognition in a hurry and claiming their stake in the era of electrification.Contribution by Startups·Renowned startups from Bengaluru have become India's first smart electric scooter manufacturers. The startups are generating a resultant of four lakh units per annum which are as opposed to the current 1.2 lakh units per annum. In addition, the startups are focused on lithium-ion battery manufacturing.·Another startup, which is renowned for cab services has been successful in introducing electric scooters. The startup is planning to set up an Rs.2400 crore ($320 STATE OF PLAY: EV STARTUPSEEDITORIAL EXCLUSIVEElectric vehicles are considered to be the niche vehicles in the grand scheme of the automotive industry, pumping out millions of cars per year
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