India's EV market has seen significant growth in recent years. What does the future hold for this dynamic sector? Let's take a look.
Ather Energy is another Bengaluru-based start-up developing electric scooters since 2013. In 2021, the company launched the, which boasts a range of 65 miles and a top speed of 56 ml/h . They have also set up charging infrastructure in Bengaluru, Chennai, and Pune, with plans to expand to other cities.
"Established players like Hero, TVS motors, Tata, KIA, and Hyundai are entering a market dominated by Ola and Ather in the 2 and 4-wheeler segment. Interestingly though, urban mobility companies are also making an impact. Companies like Yulu, Bounce, and BluSmart are operating EV fleets, which have met with good reception," continues Krishnan.The rise of local players seems to be making an impact on the EV market. This might be due to several reasons.
The second phase of the FAME scheme includes a 3-year subsidy program offering incentives for the adoption of EVs, including supporting the electrification of public and shared transportation and support for the development of charging infrastructure.is another initiative set up by the government to promote EV adoption by providing tax benefits, subsidies, and infrastructure support.
Additionally, some companies are taking steps to promote EV infrastructure in India. In 2019, Reliance Industries and BP announced plans to set up a
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