Building the Indian EV Ecosystem: Challenges and opportunities

The mobility industry is clearly going through one of its most disruptive periods with electrification being one of the major drivers of this transformation. Over 100 new models of electric vehicles (EVs) are launched globally each year, and it is estimated that by 2040, one in three cars sold will be EVs. The EV disruption in the automobile industry is also quite democratic, as the focus on new technologies has presented an opportunity for new players to enter the sector. Many established automobile manufacturers have been slow to act, giving EV startups the opportunity to gain a foothold in the market. However, despite these opportunities, EV startups need a supportive ecosystem to help them grow and achieve their full potential.