The India electric car market is anticipated to grow at an exponential CAGR during the forecast period (2019-2025). In India, cohesive government policies, and the presence of a huge customer base are the prominent factors that are promoting demand for clean and green energy cars. For instance, as a part of the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme an amount of up to $2,000 will be offered as a subsidiary on an electric car. Despite easy access to government subsidies for the purchase of electric cars, India’s electric car is still at its nascent stage.
Browse the full report description of "India Electric Car Market Size, Share & Trends Analysis Report by Vehicle Type (Hatchback, Sedan, and SUV), By Propulsion Technology (Battery Electric Car and Plug-in Hybrid Electric Car), By Battery Type (NiMH, Li-ion, and Others), and Forecast 2019-2025" at https://www.omrglobal.com/industry-reports/india-electric-car-market
Looking towards the growth opportunity in India, Tesla in talks with India’s Union minister for road transport and highways confirmed on December 2020 that the company would be arriving in India in early 2021. The company announced to make an entry in the Indian electric car industry by the introduction of its Model 3 sedan and it will be done through the completely built unit (CBU) route. In January 2021, the company registered its office in Bengaluru, India as Tesla India Motors and Energy Private Ltd., and appointed three directors of the incorporated entity. Tesla cars prices are way higher as compared to the average cost of cars (even the electric) in India. Hence, to fulfill its plan to roll-out electric cars globally; there are high chances that the company will collaborate with a domestic car manufacturer to offer affordable cars for the Indians.
Market Coverage
Key questions addressed by the report
India Electric Car Market Report Segment
By Vehicle Type
By Propulsion Technology
By Battery Type