EV market to surge in double digits: Assocham

The EV industry in the country is at a nascent stage, comprising less than one per cent of total vehicle sales and is dominated at 95 per cent by two-wheelers, an Assocham study with EY said. 

“Stricter emission norms, reducing battery prices and increasing consumer awareness are driving EV adoption in India, while EVs are not yet mainstream, government push and other indications point to a growing momentum,” stated the study titled “Electric mobility in India: Leveraging collaboration and nascency.” The report, however, noted the urgent need for creating charging infrastructure at a rapid pace “as it is the determining factor for growth of EVs.” 

“The required need at this point in time is the presence of related support industry and infrastructure as it will help the charging infrastructure thrive.” Compared to public charging, home charging would still continue to be the dominant source with a share of nearly 70 pc in 2030.