Reviewed by: Kranti Sambhav
Written by: Tabish Sultan
Credits: Overdrive
EV Spotlight
According to Gartner, the global EV market is set to explode, with 85 million EVs expected on roads globally by 2025. This growth is driven by increasing environmental concerns, government incentives, and technological advancements.
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India is projected to have 500,000 electric vehicles on its roads by the end of 2025. While this is a small fraction of the global total, it's a significant leap for a country that’s still reliant on fossil fuels. With a 51% increase expected in EV numbers in 2025 alone, India is on the brink of an electric revolution.
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In India, the majority of electric vehicles by 2025 will be Battery Electric Vehicles (BEVs), with an estimated 370,000 units on the road. BEVs are fully electric and produce zero emissions, making them the preferred choice for environmentally conscious consumer.
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According to Gartner’s Jonathan Davenport, this resulted in companies reassessing their EV strategies. However, with increased focus in recent years, the EV market is now set for accelerated growth, especially in emerging markets like India.
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The Indian government’s FAME (Faster Adoption and Manufacturing of Electric Vehicles) scheme has been a crucial driver of EV adoption. By offering subsidies and tax incentives, the scheme is making EVs more affordable for consumers.
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Indian consumers are increasingly considering the long-term benefits of EVs, especially in terms of improving air quality and reducing fuel costs. While petrol and diesel vehicles still dominate, the rising awareness of environmental issues and government incentives are slowly shifting consumer preferences toward electric.
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India is expected to have 500,000 EVs on the road by 2025, experts agree that the country’s EV adoption will accelerate beyond 2025. With continued government support, technological breakthroughs, and growing consumer demand, India could soon become one of the largest EV markets in the world.
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