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Electric Vehicle Industry in India might continue to draw investments

Future of Electric Vehicle Industry India – The challenges and opportunities

The effects of COVID-19 have been quick and substantial. The pandemic has resulted in being a major disrupter; shifting global dynamics. Manufacturing companies around the world are now focusing on developing plans to minimise the aftershocks of this disease, automotive manufacturing being one such sector. 

The pandemic has led to large-scale distress to supply bases, assembly plant closures and further downshift to the declining consumer demand. Dependency on imports from China, recent Bharat Stage VI Regulations (emission standards laid down by the Government to mainly regulate the output of air pollutants from petrol and diesel vehicles) regulations and restricted movement of migrant labourers has made it a challenging situation for the Indian automobile industry. 

In addition to assessing the impact on current automobile industry, there is also a need to understand how this will impact the newly emerging Indian Electric Vehicle (EV) segment.

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