India is expected to command leadership in EV

 

 India represents the fourth largest automobile market in the world and the second-largest two-wheeler market. It is also a country with massive dependency on oil imports, with a USD 112 billion oil import bill in FY19. EV market likely to be Rs 50,000-cr opportunity in India by 2025. India is expected to command leadership in EV space with a projected share of 30% of new vehicles sold by 2030. Government has tabled a proposal to have a charging station every 3KM in major cities & every 50KM on major national highway. Growing Sales of Electric Vehicles - A Significant Opportunity for Li-ion Batteries Market. The government plans to offer $4.6 billion in incentives to companies setting up advanced battery manufacturing facilities as it seeks to promote the use of electric vehicles and cut down its dependence on oil, according to a government proposal seen by Reuters.

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