The demand for electric vehicles is on the rise in India. As of August 2023, there are over 2.8 million registered electric vehicles (EVs) in the country, as per the Government’s ‘Vahan’ website. This surge is largely attributed to the Government’s initiatives — such as implementing policies and offering subsidies to promote a greener environment.
To further this cause, the Government has set ambitious targets for the future. By 2030, it aims to have 30 percent of private cars, 70 percent of commercial vehicles, and 80 percent of two- and three-wheelers running on electric power.
However, the widespread adoption of EVs faces several obstacles, including the high initial costs, range anxiety, lack of charging infrastructure, and dependency on imported materials for battery production.
Despite these challenges, several startups are actively working towards solving this problem through their innovations.
- Exponent Energy
