Indian Government is Working on a Scheme to Support Adaptation of Electric Vehicles
The increase in
penetration of electric vehicles would promulgate the demand for EV
infrastructure business
India: The Government of India is working on a
scheme which is aimed at increasing the adoption of electric vehicles in the
country. The scheme would lead to removal of all necessary permits that are
required to run commercial vehicles. In its endeavor to promote electric
vehicles, the government has partnered with taxi aggregator, Ola, to introduce
300 electric cars in Nagpur. The increasing focus on development of electric vehicles
would provide a big thrust to electric vehicles infrastructure market in near
future.
TechSci Research depicts that the governments
across the globe have focused on reduction of harmful gas emissions from the
automobile sector, thereby formulating policies to increase the penetration of
electric vehicles in the transportation sector. With increasing focus of
governments across the globe to promote the use of electric vehicles the demand
for electric vehicle infrastructure would increase in near future.
According to released report of TechSci Research, “Global Electric Vehicle Infrastructure
Market Forecast & Opportunities, 2021”, the global electric
vehicle infrastructure market is projected to grow at a CAGR of 27% by the end
of 2021. The growth is expected on account of increasing number of electric
vehicles globally and governments’ policy to promote the adoption of electric
vehicles. The development of battery technologies and enhancement in charging
protocols is a big boost for electric vehicle infrastructure. The development
of battery technology and universal charging protocols would lead to upsurge in
demand for electric vehicles and expansion in market for electric vehicle
infrastructure globally.