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.