India Automotive High Performance Electric Vehicle Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at XX% through 2020 to 2027, reaching US$ XX Mn.
India Automotive High Performance Electric Vehicle Market
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India Automotive High Performance Electric Vehicle Market:
Automotive High Performance Electric Vehicle can be distinguished from other electric vehicle on aspects, containing longer range of distance i.e., over 150 miles in a single charge, high acceleration, their ability to attain a speed of over 90 miles/ hour with faster acceleration of 0 to 60 miles/hour. However purely electric vehicles have some limitations, usually counting with lower range higher weight.
India’s ambition of becoming a global hub for making electric vehicles faces one key hurdle: its lack of access to lithium. India’s EV production will rely on imports from China of lithium chemicals used to make cathodes battery cells. China has a thriving lithium chemical, battery cathode, battery cell EV supply chain.
Electric Cars Buses adoption to lag post Covid-19:
Lack of long-range Electric vehicles, price range of acquisition has been the main restraint for electric passenger car uptake in India. Electric cars have not been a success story in India in the past, but the market will grow. In passenger cars buses, the uptake will be low till the problem of charging infrastructure is addressed. Until there’s a fast-charging network, it will always be a challenge. The government needs to boost electric vehicle imports with tax benefits or aggressively promote “Make in India” to achieve milestone. Adoption of electric buses will be driven by the government demand the government is committed to putting 15-20 thousand buses in the next years.
An opportunity for India:
There is a huge difference in power electronics in the global market. India, particularly, can build these at lower charges not just power electronics but the whole system, the motor, the batteries. Around 61 percent share will be established by the two-wheeler segment in the power electronics market in 2025. Whereas, in cell manufacturing, batteries electric motors, the Korean, the Japanese and the Chinese companies are leading. Around 1/3rd of the electric vehicle motor market will develop from demand in electric Buses in India in 2025.
Initiative should take by the Indian Government in Electrification:
The Government attention needs to be on investment in localized manufacturing across the value chain, skills improvement building electric vehicle Infrastructure in the country enhanced by short term incentives. There should be enhancement in electric vehicle Infrastructure including setting up implementing a fast charging group that builds fast-charging network every 50mn on Indian highways.” The government should try to enable build value chain capabilities from the cell, power electronics, and motors boost localization through SMEs. There is a need for government-industry partnerships to develop Giga Battery production plans as the EV shift requires huge investments.
Golden Period for global electric Vehicle Industry
2022-23 will be the golden period for electric vehicles with the number of launches growing significantly battery values coming down which would provide a very vital motivation to the evolution of the global electric vehicle industry. By 2025, 30-35 % of sales are expected to be electric which contains mild hybrid, full hybrids, plug-in, battery. In terms of battery electric vehicles, about 10-12 % of global sales will be fully electric. Mild hybrid systems especially 12Volt systems, 48Volt systems, and 12+12 volt systems could be very attractive options for markets such as China India, especially in the small-to-medium segment.
The objective of the report is to present a comprehensive analysis of the India Automotive High Performance Electric Vehicle Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding India Automotive High Performance Electric Vehicle Market dynamics, structure by analyzing the market segments and project the India Automotive High Performance Electric Vehicle Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the India Automotive High Performance Electric Vehicle Market make the report investor’s guide.
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India Automotive High Performance Electric Vehicle Market, By Drive Type
• Plug-in Hybrid
• Pure Electric
India Automotive High Performance Electric Vehicle Market, By Vehicle Type
• Passenger Car
• Commercial Vehicle
India Automotive High Performance Electric Vehicle Market Key Players
• Hyundai Motor Company
• Mahindra Electric Mobility Limited
• Volvo Car Corporation
• Toyota Kirloskar Motor Pvt. Ltd
• Tata Motors Limited
• Honda Motor Co. Ltd.
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