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WEF-Ola Mobility report states India to become the World’s largest EV Market.

A piece of good news for the electric vehicle manufacturer has just been making the news.

Recently, the world economic forum a report which states that India as a leading automobile has the potential to become one of the largest markets for electric vehicles in the future.

However, the government does play a strong role in it. Currently, the uptake on the electric vehicle is slow as per the plans due to high costs involved.

     

As per Christoph Wolff, Head of Mobility, World Economic Forum, the very long term investment in R&D will upskill the level of growth shortly.

EV-Ready India- Part 1 is a value chain analysis of the Electric Vehicles state policies which was set out in collaboration with Ola Electric Institute.

The Electric Vehicle policies were analysed of a total of 10 states which are Bihar, Kerela, Andhra Pradesh, Karnataka, Maharashtra and the union territories of the country.

     

The main of the report is to adopt a holistic approach for the Electric Vehicle acceleration in the country.

Findings of the WEF Report:

The report states that the above-mentioned states have an aim to become the hub of manufacturing of electric vehicles and their components in the country.

These areas have tried their best to give a boost to the ecosystem as they have heavily invested in the production of clean-fuel batteries, and storage of electric vehicles.

The working of all the states and union territories is aligned with the agenda of Make in India.

     

These areas have very significantly lived up to the expectations and have been working with all the rules and regulations and can provide several care studies to set up the production facilities and help other states and cities.

The reports have given examples of how Maharashtra and Uttar Pradesh have strongly emphasised on promoting the policies of electric vehicles in their areas.

The two trends highlighted by the reports were:

A. States are extremely anxious about the adaptability of Electric vehicle cars and this has made them focus on the infrastructure of the electric vehicle.

     

Many of the states now have a provision to install the charging points for the electric vehicles in all the public as well as private spaces.

B. The states have made efforts to connect electric vehicles to consumers with the help of several programmes such as Tamil Nadu’s skilling program, Maharashtra’s fiscal Incentives etc.

     
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