Ever since the Government of India made public its intention to electrify all new vehicles by 2030, a sudden wave of excitement has gripped the global automotive industry. Several global and local OEMs in India have begun work on their respective India electric vehicle (EV) strategies. we had interacted with various stakeholders, such as OEMs, government entities and EV ecosystem players, to understand their perspectives. After having analyzed this insight, we believe 2020 could be the watershed year for the EV revolution in the passenger vehicle (PV) segment in India. Progressive efforts in charging infrastructure and localized battery production could reap dividends, encouraging OEMs to launch EVs for Indian consumers. For India to make the EV dream a reality, it is important that enablers such as the charging infrastructure network, localized battery and product availability move in tandem, given their complementary nature. While the government and the other players in the ecosystem are making the appropriate moves in battery and charging infrastructure, we hope OEMs will also begin to think beyond institutional customers such as government entities and fleet operators, and focus on the needs of retail consumers in order to create sustained momentum and make the EV dream a reality.
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