Indian Light Electric Vehicle Industry

1. July 2019 India Light Electric Vehicle Industry

2. OVERVIEW Indian Light Electric Vehicle Industry The Indian light electric vehicle market is growing at a significant rate, due to the promising government initiatives and policies, increasing concern about environment pollution, subsidies and rebate offered by the government and increasing awareness among consumers for electric vehicles. The public transport system has pioneered to incorporate the electric vehicles including electric buses and electric rickshaws. For personal use electric two-wheelers are gaining traction in India especially among the younger population. The market is expected to witness high demand for battery electric vehicle in the coming years due to refining charging infrastructure, government assistance in the form of permits, supports, and tax rebates, decreasing charging time and zero emission of carbon. In 2018, Indian government confirmed subsidies for all type of electric vehicles. Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles II (FAMEII) scheme has been finalized in April this year. As per the scheme, the government will invest INR 5,500 crores (~ USD 784 million) in the next five years. The governing panel decided that the subsidiary will be provided for all kinds of electric vehicles including light electric vehicles. To get a sample copy of the Light Electric Vehicle Market Research Report, please visit at: https://www.vynzresearch.com/automotive-transportation/light-electric-vehicle-market/request-sample 02 03 05

3. NEWS DIGEST • July 2019, NITI Aayogto channel more investments Into building EV infrastructure. It is estimated that USD 40 Bn investment needed on the EV batteries. • July 2019, NITI Aayog to channel more investments Into building EV infrastructure. It is estimated that USD 40 Bn investment needed on the EV batteries. • July 2019, The Federation of Indian Chambers of Commerce and Industry (FICCI) recommended some changes to be made to the FAME II scheme. These changes include incentivising battery swapping stations. The industry body reported that the incentives can be given to battery swapping stations just as it is being given to EV charging stations under FAME II. • July 2019, The Federation of Indian Chambers of Commerce and Industry (FICCI) recommended some changes to be made to the FAME II scheme. These changes include incentivising battery swapping stations. The industry body reported that the incentives can be given to battery swapping stations just as it is being given to EV charging stations under FAME II. • July 2019, The Indian government is focusing on using the petrol pumps for electric vehicle charging station to promote the EV use in the country. • June 2018, According to a report by Reuters, the Indian Government is planning to mandate cab-hailing companies like Ola and Uber to convert 40% of their fleet of vehicles to electric by April 2026. 02 03 05

4. NEWS DIGEST • June 2019, The Andhra Pradesh State Road Transport Corporation (APSRTC) has come up with a proposal to deploy 350 electric buses in five cities in the state. The project is likely to cost ₹7.64 billion (~$109.6 million) and will be initiated shortly with each bus expected to cost nearly ₹21.8 million ($312,841). • June 2019, Olectra-BYD, a Hyderabad based electric bus manufacturer is actively scouting for land in north India to set up its second greenfield electric bus plant by 2021. • June 2019, Telangana State Road Transport Corporation said a proposal for as many as 550 buses was being worked out. In a bid to reduce carbon emissions, the Union Cabinet had in February cleared the proposal for Faster Adoption and Manufacturing of Electric Vehicles in India Phase – II. • June 2019, Union Minister of Finance NirmalaSitharaman led goods and service tax (GST) council on Friday approved reduction GST on electric vehicle chargers to 12 per cent from 18 per cent earlier. 02 03 05

5. Industry Scenario • India Electric Two-Wheeler Industry • The Indian electric two-wheeler market is predicted to grow at 44.0% CAGR during the forecast period with its fleet size reaching 633.9 thousand units by 2024. The Indian market is primarily driven by the as large population and supportive government regulations. Different products including e-scooters and e-bikes are majorly contributing to the electric two-wheeler market size in India. The market has witnessed significant demand for these products over the last few years with the increasing per capita income, increasing awareness for curbing vehicular emissions and development of smart cities. • https://www.vynzresearch.com/automotive-transportation/india-electric-two-wheeler-market • India Electric Three-Wheeler Industry • The Indian electric three-wheeler market is predicted to grow at 45.2% CAGR during the forecast period, in terms of its fleet size. The Indian market is primarily driven by government support and subsidies, an entrance of new entrants in the market and the need for the alternative transport system to curb vehicular emissions. Passenger vehicles largely contributed to the Indian three-wheelers market. • https://www.vynzresearch.com/automotive-transportation/india-electric-three-wheeler-market 02 03

6. Primary Research Industry Scenario Which of the following segment will witness the highest demand in the coming 5 years? Which of the following factor is the most impactful for EV industry growth in India?

7. Primary Research Industry Scenario What are the key challenges before EV industry in India? How do you think of the Indian government initiatives towards EV industry?

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