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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.


 

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This post is part of a series titled ” EVolution or rEVolution? Strategizing for EV Growth in India ” from EV Next Perspectives. See all posts for this series from here. See the previous post – EVolution or rEVolution? Strategizing for EV Growth in India

Highlights of the Indian EV Industry, an EV Next Perspective

 

  • India’s electric vehicle market size is today insignificant compared to global market size
  • Electric vehicles, as part of the sustainable transportation framework, are needed to achieve multiple yet related, goals.
  • While most government strategies for electric vehicles are structured around PUSH (mandates and incentives), the PULL (market needs and aspirations) should in fact be the foundation around which such PUSH components are designed.
  • The key needs & aspirations of the Indian transportation market revolve around price, running cost and performance. Electric vehicles do very well on running cost and satisfy some of the performance needs, but do poorly on price.
  • The key challenges – High Price, Low Range per Charge and Long Battery Times – are all technology-related and will take between 5 and 7 years to be overcome.
  • There are however some possible avenues to facilitate growth in the short and medium term (2018-2025)
  • There needs to be a customized growth strategy for the 2018-2025 period when most of the challenges are being overcome, and a different one post 2025 when there’s both cost and performance parity for EVs with their conventional counterparts.
  • The 2018-2025 growth strategy needs to have four focus dimensions – Product/Market, Geography, Technology and Infrastructure. A well-designed strategy will comprise elements on each of these dimensions to ensure steady growth of EVs during this phase, in spite of challenges.
  • During this phase, growth in EVs to be dominated by 2 and 3 wheelers, and buses, with cars playing an insignificant role. In terms of geography, one can expect EV and EV charging infrastructure growth highly concentrated in the top 7-10 cities.
  • While the optimal strategy during 2018-2025 will make only a moderate contribution towards sustainable transportation goals, it will ensure a sustained but steady growth in electric mobility in the country. The optimal strategy will also lay the foundation for a much faster growth post 2025.
  • The period 2018-2025 can hence be considered to the EVolution phase for the Indian EV sector, with the rEVolution phase characterized by much faster growth starting post 2025.
  • During the EVolution phase, the Indian industry will have select but steady business opportunities in EV components, EV charging stations, in the intersection between solar and EV charging, battery assembly and BMS, and research and collaboration opportunities in the upstream Li-ion battery value chain.

This post is part of a series titled ” EVolution or rEVolution? Strategizing for EV Growth in India ” from EV Next Perspectives. See all posts for this series from here. See next post – Understanding The PUSH & PULL for the Indian EV Industry

The complete list of bogs in the series-

  1. Highlights of the Indian EV Industry, an EAI Perspective
  2. Understanding The PUSH & PULL for the Indian EV Industry
  3. The Needs & Drivers of the Indian EV Market
  4. Constraints, Challenges and Avenues for EV Adoption in India
  5. Strategizing for India’s EV Growth
  6. EV Next’s Strategy Recommendation for India’s EV Growth – Summary & Analysis
  7. India’s EV Growth – EVolution or rEVolution? – the conclusion

Read more of our perspectives and opinions on: Indian EV Market Intelligence | Indian EV Strategy | Indian EV Policies | R&D and Innovation | Supply Chain | Indian EV Manufacturers | Adoption Trends | Electric Vehicle Impact | Indian EV Industry Highlights | Know how of Indian Emobility | Needs & Drivers | Constraints for EV adoption | Growth Strategies | Recommendations |


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Get to know about 1000+ EV innovations from EVI2: Electric Vehicle Innovation Intelligence from EVNext