The India electric vehicle market is projected to grow at a significant CAGR during the forecast period (2019-2025). The market growth is attributed to the increasing interest of start-ups in the domestic market of the EV landscape. For instance, in January 2021, Ozon Motors announced to debut in India. The company will unveil its first product (Alice Urban) in 2021 (month not specified) as a potential game-changer for the domestic EV segment.
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A full report of India Electric Vehicle Market is available at: https://www.omrglobal.com/industry-reports/india-electric-vehicle-market
The sole purpose of this new product is to keep the price affordable. Currently, the cheapest electric vehicle available in the country is the Tata Tigor EV, with retail prices ranging from INR 958,000 ($13,127) to INR 990,000 ($13,565). In addition, Tatanexon EV is available with a starting price of INR 13,99,000 ($19,170). Others such as MG ZSEV and Hyundai Kona cost over INR 20,00,000 ($27,405). The high price of these cars has made them inaccessible to many customers who wish to buy EVs. Alice Urban is expected to be offered at a low price, which will motivate customers to switch to electric vehicles.
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Market Coverage
- Market number available for – 2018-2025
- Base year- 2019
- Forecast period- 2019-2025
- Segment Covered- By Vehicle Type, By Propulsion Technology, By Battery Type
- Region Covered- India
- Competitive Landscape- Hyundai Motor Co., Mahindra & Mahindra Ltd., and Tata Motors Ltd.
Key Questions Addressed by the Report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
India Electric Vehicle Market Report Segment
By Vehicle Type
- Commercial Vehicles
- Passenger Vehicles
- Two-Wheeler
By Propulsion Technology
- Battery Electric Vehicles
- Plug-in Hybrid Electric Vehicles
By Battery Type
- NiMH
- Li-ion
- Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
