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India EV Strategy – Electric Vehicle Market – Insights & Perspectives


Last Update: February 2020 by Narasimhan Santhanam



This posevnext-logo-v-smallt is a part of EV Next’s EV Perspectives.

EV Nexta division of EAI, is a leading market intelligence & strategic consulting firm for the Indian e-mobility sector.


 

Introduction

India’s electric vehicle industry is still at its nascence when compared with other international markets such as US, China & Europe etc. China, being the leader holds nearly 50% share of the global electric vehicle market with India accounting for just a share of 0.1%. However, the current status of the Indian EV market and its future growth strategy are explained in detail in the following sections (Click on each section for more details).

Let us look at some strategic aspects of the Indian EV sector:

  • Key Indian Battery Makers Plans for EVs – Exide, Amara Raja, HBL, Eveready Strategy for Electric Vehicle Batteries – With the electric vehicles market in India expected to accelerate fast and result in a large market by 2025, the battery market potential in the country too  is expected to be large and attractive. It is almost certain that a large percentage of these batteries will be Li-ion batteries. What are the plans of the Indian battery majors – most of whom are more into lead acid batteries – for this upcoming market opportunity? This post reviews the plans and strategies of the prominent Indian battery players for the Indian e-mobility market.
  • Current and Expected Market Sizes of Electric Vehicles in India – E-scooter, Electric Car, Electric Rickshaws, E-bikes – Until about 2015, there were very few electric vehicles sold in India, except for the stray Reva. Starting 2015, the e-rickshaw market started seeing growth, especially in the NCR region, driven mainly by air pollution concerns. Starting 2018, electric vehicles of all types started gaining attention. Even though electric car sales in India are still low, sales of electric two wheelers, three wheelers and even electric buses are fast picking up. This post provides the current status of the electric vehicles market size and sales and future expected estimates, for all the prominent types of electric vehicles. 
  • Challenges to EV Growth in India – Cost & Performance Challenges for Indian Electric Vehicle Market – It is well known that the high cost of electric vehicle, combined with range anxiety and long charging times are some of the key challenges in the way of EV growth in India. But how are these challenges likely to impact growth, for different EV product and market segments, and for different timelines? This post provides insights and analyses on how the challenges are likely to play out in the Indian EV industry.
  • Strategy for Indian Electric Vehicle Growth – Product, Tech, Infra Strategies for EV Market – Strategizing for an emerging market is never easy as there are so many uncertainties. India’s EV market is no exception. Any robust strategy for the Indian EV market needs to take into account in-depth analysis on multiple dimensions such as emerging technologies, different types of EV products, the current and expected charging/swapping infrastructure, end user market aspirations etc. This detailed post provides guidance for decision-makers in strategizing for the Indian EV market by providing a framework and tools for such analysis and providing specific recommendations on the key dimensions such as product, technology, geography and infrastucture.
  • India EV Strategy & Trends in Indian Transport and Energy Ecosystem – MRTS, BS VI, Biofuels… – Electric vehicles belong to a much larger ecosystem, the transport ecosystem. Hence, any analysis of the electric vehicle industry and its growth needs to take into consideration also the other parallel trends in India’s sustainable transport domain. This post reviews the various dimensions of sustainable transport in India and analyses the current and emerging trends in these domains.
  • Current and Future Market Sizes of Electric Vehicles – Global EV Growth – The EV market worldwide is growing at a tremendous pace. From just about 1 million cars in total on the roads by end of 2015, the industry doubled in size by end of 2016, increased to 3 million end of 2017, 5.1 million and by end of 2018, and by end 2019 there are an estimated 7.4 million electric cars on the road, with about 2.3 million of these sold in 2019 alone. And it is not just electric cars. Other electric vehicles such as electric buses, electric three wheelers and electric scooters are also showing growth. Interesting electric two wheelers such as e-scooters are showing growth even in regions like the US that have been traditionally car markets. Details on trends such as these and more are provided in this post.
  • Key EV Product & Geo Market Segments & Growth Trends – E-bikes, E-scooters, Electric Cars, E-scooters – The growth of EV market in India will be very different from the sector’s growth in other prominent countries such as USA, the EU or China. In India, electric two wheelers and three wheelers are expected to grow much faster until about 2025 post which electric cars could see significant market acceleration. In addition, one can expect some end user segments (such as fleets) to adopt electric vehicles faster than some others (Eg: personal use segment). More details and insights on such expected growth trends for EV products, end user segments and geographies are provided in this post.
  • Indian Electric Vehicle Market Entry Strategy – Recommendations for Different Types of Investors – There is considerable interest among different types of investors to invest in the Indian electric vehicle market. Such investors range from pure financial investors (angel investors, VCs, private equity firms) to corporate investors looking for joint ventures or even outright acquisitions. What could be the optimal market entry or investment strategy for the Indian EV segment? This will differ from one investor type to another. This post provides insights and analyses on recommended Indian EV market entry and investment strategy for different investor groups.

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Know more on how EV Next can assist your business in your strategy for the e-mobility and electric vehicles sectors, Here

Wish to know everything about India’s EV market from one place? Check out the India EV Expert Guide, an 800 page comprehensive guide to the Indian EV marketHere


 

Comprehensive Inputs on Indian EV Ecosystem

Check out the following sections for comprehensive inputs on Indian EV ecosystem (click on each section for more details)


Categories: E-mobility, E-mobility Perspectives, Electric Vehicles, Indian E-mobility Strategy

Author - Narasimhan Santhanam


Thank you for reading this post – hope it was helpful. You can connect with me at narsi@eai.in. My detailed profile here and my LinkedIn profile here

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About EAI & EV Next

EV Next, EAI's specialized consulting division, provides assistance in market research, strategy consulting, technology vendor/supplier finder assistance and more for the complete EV value chain - Li-ion & Lead Acid Battery Cells & Battery Packs, BMS, Battery Manufacturing equipment, EV charging station, battery swapping station, Li-ion & Lead Acid battery recycling, and for a range of electric vehicles - e-bikes, electric bicycles, electric scooters, electric motorbikes, electric autos, e-autos, e-rickshaws, electric trucks, electric LCVs, electric buses and more. Send a note to consult@eai.in if you wish to take EV Next assistance for the Indian electric vehicle market.



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6 Comments

  1. UPS on Rent January 16, 2019

    Nice article with good thinking. It will be the proud moment of India to have an EV more than other.

    (reply)
  2. Sital Enterprise March 27, 2019

    helpful information

    (reply)
  3. click here April 24, 2019

    Nice article with good thinking. It will be the proud moment of India to have an EV more than other.

    (reply)
  4. Bharat Solar June 1, 2019

    Nice information! It will be the proud moment of India to have an Electric Vehicle more than other. Solar panel also help to save more money.

    (reply)
  5. Kiran July 5, 2019

    there are lot of difficulties to adapt the EV easily. it will not be going a easy job for India to adapt EVs.
    there are several technical & issues associated to adaption of EV’s in country like India.
    please read bellow article to know more about the difficulties associated to adapt the EV’s

    (reply)
  6. walksmart January 16, 2020

    The most important factor when looking for a a motorized scooter for grownups is the battery pack. With a riding distance of 9-12 miles (depending on how many hills you ride up), this is plenty for most commuters to ride to work on. With a low charge time of 3-4 hours, this is plenty of time to charge the scooter at work and ride home on a full battery without range anxiety kicking in!

    (reply)

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