Is India Ready for an Electric Vehicle Revolution

Is India Ready for an Electric Vehicle Revolution?

Revolutions don’t necessarily start with revolutionary ideas; sometimes, they start with normal things done in a revolutionary way.

We often emphasize the upcoming EV Revolution in India, and while the phrase brings up many good points to highlight and shows the better side of the scenario, it often conceals the not-so-good side of this upcoming revolution.

There still are a lot of challenges standing in the way of this revolution and the biggest one being the misunderstanding and underestimation of the current scenarios that make us question whether India is ready for an Electric Vehicle revolution just yet.

To understand where we stand, let us first analyze the current EV scenarios and discuss the segment-wise sale of electric vehicles in India.

Current EV Scenario and Segment-Wise Sale of EVs in India

When discussing the sales of EVs in India, we need to understand that EV comes in different forms and the demands vary heavily based on areas. 

So, it is extremely important to analyze each sector one by one to get the best understanding of this scenario.

Uttar Pradesh, Karnataka, Tamil Nadu, Delhi, and Maharashtra were the top-leading sellers and consumers of EVs this year.

While the year 2022 marked a sale of around 4 Lakh electric vehicles, the cumulative count for EV sales in India reaches a figure of 10 Lakh and is expected to rise even more as the year progresses.

While the market was heavily dominated by the sales of two-wheelers, with a 55% share of the total sale, a decent part of sales was contributed by the three-wheelers reaching an estimated figure of 35% this year. 

This data is meaningless if we don’t compare it with the past years to thoroughly analyze the increase in sales and derive a better conclusion.

According to the latest data and reports, every sector has shown growth in sales in the year 2022. 

Electric two-wheelers have shown a growth of 75%, electric three-wheelers have shown a sign of progress with around a 102% increase in sales, electric cars touched the benchmark with an increment of 275% sales this year, while the least spoken e-buses touched a mark of 220% increase in sales, thus establishing a pattern of only growth with the year progressing.

The trends are progressive even for the remaining 2022, with Tata Motors emerging as the top player in the market this year.

Now let us talk about the challenges in the EV sector that are potentially hindering the exponential growth trends in some sectors while indirectly boosting sales in other sectors. 

As said, the solution lies in the problem itself and since we are looking for the best solution, let’s understand the problems to their best first.

Challenges in the EV Sector

There are many challenges in the EV industry that constantly hinders its sales and popularity, but the biggest challenge is the lack of awareness and reality check of the misconceptions built around the ongoing challenges of the EV industry.

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