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Here are some glimpses of the India EV 2024 Expo and Conference, presented by Citroën India and powered by Jio-bp! 𝟒𝟓% 𝐨𝐟 𝐈𝐧𝐝𝐢𝐚’𝐬 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 (𝐄𝐕) 𝐒𝐚𝐥𝐞𝐬 𝐜𝐨𝐦𝐞 𝐟𝐫𝐨𝐦 𝐒𝐨𝐮𝐭𝐡 𝐈𝐧𝐝𝐢𝐚: 𝐑𝐞𝐩𝐨𝐫𝐭 Highlights from the report by Frost & Sullivan India on India’s EV market: • Over 123,000 Battery Electric Vehicles (passenger cars) are likely to be sold in India by the end of 2024; recording an estimated y-o-y growth of 47.9% compared to ~83,000 units sold in 2023. Express News || Ashita M. || Nitin Chauhan || Smriti Shrestha || Franchise India Holdings Limited || Preetima Bhardwaj Read More: https://lnkd.in/gvXXKqW4 #IndiaEV2024 #ElectricVehicles #SustainableFuture #Recycling #CitroënIndia #Jiobp

Evolving Electric Vehicle Market in India   The Electric Vehicle (EV) industry in India has evolved significantly over the years. The industry is expected to become the largest EV market with a total investment opportunity of more than US$ 200 billion over the decade. The EV market is projected to grow from $3.21 billion in 2022 to $113.99 billion by 2029 at a CAGR of 66.52%. In the EV segment, the demand for electric two-wheelers (E2W) has gone up significantly among the public due to rising fuel prices, growing environmental concerns, and lower costs compared to ICE vehicles. As per a recent study, the E2W market is expected to be over 80 percent of the overall 2W market by 2030. Owing to various factors such as falling battery prices along with FAME incentives offered by the government have lowered the prices of E2Ws. E2Ws enabled with 48V batteries held the highest market share in India in 2022 due to cost-effectiveness, range, and safety. Electric scooters in the medium speed range are expected to dominate the market in India in the upcoming years As per a survey from the Government’s Vahan portal, the national average of E2W penetration in the country was found to be 5.63% as of May 2023 up from 4.05 % in 2022. States like Goa, Kerala, Maharashtra, and Karnataka stand at the top 4 in E2W penetration along with a few other states. Tamil Nadu has an E2W penetration of 6.31% slightly higher than the national average. On the sales part, UP and Maharashtra top the sales with 20.31% and 10.77% respectively for EVs Tamil Nadu accounts for nearly 46% of E2Ws sold in India. The state also owns the largest E2W manufacturing factory Ola Electric. Also, other players like Ather Energy, Simple Energy, etc. have their manufacturing plants in the state. Other players like TVS Motor, Ampere, etc. have expressed their interest in investing in EV manufacturing in the state. Overall, the EV market in India has witnessed exponential growth over the last few years despite several challenges. The government of India has also announced its target to achieve net zero carbon emission by 2070 undermining that EVs are the way forward in transportation and making significant progress to push the use of electric vehicles for mobility. #model #electricvehiclesarethefuture #ebikes #electricvehiclecharging #automotive #teslamodels #teslalife #vehicles #future #futuremobility #technology #motorcycle #innovation #urbanmobility #battery #teslaroadster #teslamodelx #teslaowner #zeroemission #cleanenergy #automobile #teslamodely #evcharger #cybertruck #scooters #elonmusk #escooterlife #india #motorcycles #electricscooters #electricvehiclesindia #sustainability #carbonfree #transportation #tamilnadu #chennai #bikesales #evindustry #evmanufacturing #automobilefactory #manufacturingplants #evmarket

Exciting times ahead in the Indian Electric Vehicle (EV) industry! The growing appeal of EVs is not only driven by consumer demand but also by crucial government regulations aimed at promoting wider EV adoption and achieving emission targets by 2030. Today, India stands proudly as the fifth-largest global automotive market, encompassing both Internal Combustion Engines and electric vehicles. What's even more awe-inspiring is the forecast that by 2030, we are set to ascend to the coveted position of the third-largest market. Here are some remarkable insights: - Equity inflows from FDI amounted to $32.84 bn between April 2000 and March 2022 - Projected CAGR of the EV market stood at 90% over this decade - India's EV market is projected to be worth $150 bn by 2030 Together, we are reshaping the future of mobility, fueling innovation, and driving sustainable progress. Let's continue to lead with ingenuity and determination, propelling India towards a cleaner, greener, and electrifying future. The road ahead is boundless, and I can't wait to witness the remarkable milestones we'll achieve together. #Pradautomotive #AutomotiveInnovation #EVIndustry #ElectrifyingFuture #VisionaryLeadership #SustainableMobility #tatamotors #toyota #ev #mahindra #mahindracars #mahindraandmahindra #marutisuzuki #electriccars #electricalvehicles #goelectric #greenenergy #cleanenergy

Exciting news for the Indian electric vehicles market! According to our latest article, the industry is expected to grow at a remarkable 66.52% CAGR from 2022 to 2029, reaching a value of $113.99 bn. Read our publication by Namrata Sen Chanda to learn more about the future of EVs in India.

India has been ranked as the third most affordable nation for charging electric vehicles (EVs) in a study done by Compare the Market Australia. The Hyundai Kona was used as the reference vehicle in the study, which looked at the costs associated with EV charging and fuel usage across 50 nations. Indian EV users spend just $0.95 for every 100 kilometers, compared to countries like Italy and Denmark, which charge their citizens $7.49. Indian EV drivers saved 88.26% per kilometer , which places the country in second place in terms of savings as a percentage. Source: EV UPDATE MEDIA #ExeliqNewsWednesday #ExeliqNews #announcement #Product #launch #EV #new #thankyou #automation #technology #engineering #innovation #exeliqsolutions

Total Electric Vehicle Sales in India (Jan to Oct 2022) - 12,34,325 units (as per Vahan website) with a YoY growth of 55%. 5% of these are e-2W, 7% e-3W and eBuses each.. #electric #twowheelers, #electric #threewheelers and #ebus looking like the most promising markets in #indian #evindustry, where e2W are expected to showcase a penetration of ~30% of total new registration by 2030. e3W and eBuses would be 40% (each) of total 3W and Bus sales in 2030.

For an #EVReadyIndia, perhaps working on what's working is a good strategy. India should focus on and build upon the factors that are currently driving the surge in electric vehicle (EV) sales, capitalising on proven strategies. Continuing to strengthen and expand these successful strategies is likely to yield further gains in EV sales and adoption. How, you might wonder? ❇ Maintaining momentum and market leadership: The Indian EV market has seen registrations skyrocket from 0.94% in August 2022 to 7.33% in December 2023. Sustaining this momentum and solidifying India's position as a global EV leader is crucial. ❇ Addressing known challenges: By focusing on strategies that are already working, India can more effectively tackle supply chain disruptions and production delays, ensuring a smoother transition to widespread EV adoption. ❇ Leveraging existing strengths: India has built impressive charging infrastructure, supportive policies, and diverse EV models. Building on these foundations is likely a more efficient path forward than starting from scratch. ❇ Enhancing consumer confidence: Focusing on proven successful strategies will help increase consumer trust in EVs, making them a more attractive and viable option for a wider range of buyers. This can further accelerate EV adoption. Please read the article here: (We spent time writing it) https://lnkd.in/g6kx-nCB #OMIFoundation #ElectricVehicles #CleanMobility #EVSales #EVGrowth #EVPolicy

An insight into the E3W market share in 2023, by Puranika Narayana Bhatta. Compare this to the E2W market, where 2 players have almost 50% of the market.

Electric Vehicles Market Share in India By 2030, NITI Aayog expects to reach 70% EV market penetration for all commercial vehicles, 30% for private vehicles, 40% for buses, and 80% for two and three-wheelers. This is consistent to reach net zero carbon emissions by 2070.

"🚗💰 The EV industry in India is buzzing with excitement! 🇮🇳✨ Today, I want to talk about something that plays a crucial role in the success of electric vehicles: BOM cost. 💡💸 BOM, or Bill of Materials, cost refers to the total cost of all the components and materials that make up an electric vehicle. It's an essential factor that impacts the affordability and competitiveness of EVs in the market. ⚡️📊 As the EV industry continues to grow, it's becoming increasingly important to optimize the BOM cost. By finding innovative ways to reduce costs without compromising on quality and performance, we can make electric vehicles more accessible to a wider audience. 🌍💪 Lower BOM costs can lead to several benefits, such as: 1️⃣ Making EVs more affordable for consumers, encouraging wider adoption. 2️⃣ Boosting the competitiveness of Indian EV manufacturers in the global market. 3️⃣ Driving technological advancements and innovation in the industry. 4️⃣ Supporting the government's vision of a greener and sustainable transportation system. 🌿🚀 It's crucial for industry professionals, engineers, and policymakers to collaborate and brainstorm strategies to optimize BOM costs. By doing so, we can accelerate the growth of the EV industry in India and pave the way for a cleaner and brighter future. 🌟🔌 Let's keep the conversation going! I'm excited to hear your thoughts on the importance of BOM cost in the EV industry. Feel free to share your insights and experiences in the comments below. Together, we can drive the EV revolution in India! 🚀🔋 #EVIndustry #BOMCost #Affordability #SustainableFuture #ElectricMobility 🎉💼