APRIL 202119hile Electric Vehicles (EVs) have been around for a long time, the level of innovation and interest in the space has been witnessed only over the past decade. Infact, EVs are now being looked as at future of vehicles due to its enhanced energy security, reduced reliance on crude oil, better air quality and lower greenhouse gas emissions. EVs are therefore, emerging as the preferred clean technology for the future of mobility. This has led to improvement of event the advancement in the segment especially the battery and charging technologies, which will soon also witnessed reduced costs to further give this a push.The opportunity of EV has long been seen as a game changer for the automotive segment in India. A desire to reduce pollution levels and dependence on oil imports has bolstered the case for EV adoption. India's post-liberalization journey has encompassed rapid urbanization, migration and economic growth. India held the worst pollution record in 2019, with 21 out of the 30 most polluted cities in the world, also the country has alarmingly over 2 million pollution linked deaths annually, the most in the world and air pollution is an immense drain on the country's resources,costing India the equivalent of 5.4 per cent of GDP. Despite the compelling cases for adoption of EV, the success of EVs so far has been constrained by weak customer appetite and infrastructure roadblocks, among other factors. Many EVs introduced in India have fallen short of customer expectation with concerns lingering on costs, range, speed, battery life and battery technology. The fallout of the COVID outbreak and subsequent lockdown has also taken a harsh toll on the automotive industry, further impending the shift to EVs as several projects have been deferred. While EVs represent less than 1% of the overall market, the silver lining is that WCXO INSIGHTSBy Vikas Aggarwal, Director- IPower Batteries Pvt LtdA pioneer in the evolving energy solution space in India, he has been developing an ecosystem of an ecosystem of delighted customers, committed partners and pay back to the community with their exceptional product quality and service.THE EVOLVING ELECTRIC VEHICLE LANDSCAPE IN INDIA: OPPORTUNITIES AND CHALLENGESVikas Aggarwal, Director
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