CASE Development in India (Part 1): Electrification
Government providing incentives and private sector moving forward
|eVerito (Source: Mahindra Electric)|
Fiscal year 2019-20 witnessed the emergence of C.A.S.E (Connected, Autonomous, Shared and Electric) related developments in India.
Vehicle electrification was further benefited by favorable Indian government policies, new model launches and initiatives by e-commerce businesses for the transition to electric mobility. Battery manufacturing will also get a boost in India with several new partnerships for raw materials as well as technology partnerships.
Electric vehicle market
During FY 2019-20, in the electric 4-wheeler segment, 3,400 units sold compared to 3,600 units in the previous fiscal year. The decrease in number is attributed mainly to lack of bulk purchase and discontinuation of one of the leading car models.
The electric vehicle penetration is still very low in India; electric vehicle sales accounted for less than 1% of total passenger vehicle sales. The electric mobility infrastructure, high prices of electric vehicles, and confusing government policies are several of the reasons which affected the sales of electric vehicles in India.
However recent government announcements and new model launches from OEMs are expected to accelerate electric vehicle sales in India.
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