What may have led to a jump in the EV demand in the last 5 years?

As you know, one of the common trends in the country especially of late has been the hike in fuel prices. Not a day goes by when you and I do not hear about yet another spike. But is that the only concern we have today ahead of us?

Add to this anomaly in our life the threat of climate change that’s pretty much affecting the world, and you have a glaring problem that surrounds us.

If the pollution-related health woes were to be a hit list, then it would appear that India is on the top of its victim list.

Ever thought about that?

Against that narrative, one can be only glad to know that in our country, people have finally begun to show a sense of keenness toward purchasing an EV.

Things may not seem entirely rosy as yet, but if we talk about the last five-month graph of sales, then the EV chart of sales has changed for the better. That’s especially when compared to the last year’s chart.

As per the govt. records, no fewer than 85,911 EVs were registered last month, and the figure for July month was lavish too. At 77,868, EV car units!

Now, if you talk about the last year of August 2021, then the count was 29,127l; barely close to 30,000 EV units.

Resultantly, one witnessed an 11% demand increase in the EV sector. If that’s not a sign of progression, then what is?

That being said, when it comes to the overall participation of carmakers towards EV cars, then Tata Motors has comfortably held its numero uno position, having sold 3,845 cars, which means of the overall cars sold in the country, 88 percent were from the stable of Tata Motors,

Moving on, the revered MG Motors finds itself in 2nd position on the list with a total figure of 308 EV units (sold), followed by Hyundai on rank 3.

Day by day, many companies are taking steps toward the EV sector. From a country’s perspective, the ambition, and robust if it can be, should be to be a cornerstone when it comes to EV adoption in the buzzing epicenter of the sub-continent.

That India should be recognized for its inclination towards the EV car culture should be the aim of the country.

And this isn’t some fanboy speak; it’s very much possible for India to attain such lofty standards in the EV sphere.

So how’s that?

The government has launched a production-linked incentive (PLI) scheme, which is worth a whopping INR 18,100 Cr for advanced cell chemistry manufacturing in India. The scheme saw Ola Electric, Reliance New Energy and Rajesh Exports sign up to manufacture 98 GWh of battery capacity.

As you know, recently, at the Maruti Suzuki event, Shri PM Modi said that EVs are bringing a ‘silent revolution’ to the country. “Be it two-wheelers or four-wheelers, they don’t make any noise,” were the honorable PM’s words.

So is India primed for an interesting few years where things stand in the EV domain? It’s anyone’s guess!

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