EV sales will cross up to 9 million in India by 2027

As per the report published by “Electrifying India mobility “, EV sales will cross up to 9 million in India by 2027, will create more than 10 million direct jobs & 50 million indirect jobs in the electric automotive market over the year.

EV sales will cross up to 9 million in India by 2027

The expert also shares their thoughts about the need for the government as well as the giant investors community to work together on a sustainable solution to grow the EV sector by 2027.

In a report published by Indian Private Equality & Venture Capital Association(IVCA) in collaboration with “EY” is the largest global strategy consulting organization and “IndusLaw” is a multi-specialty Indian law firm with over 50 partners & 300 Lawyers across 4 offices in Bangalore, Delhi, Hyderabad, and Mumbai.

As per the “Electrifying India mobility” report, the Indian private equality & Venture Capital Association(IVCA), was invested $1.7 billion in the EV sector last year, 2021, and the amount has reached up to 666 million in 2022 so far.

At the event, various experts & investor communities were present in the event including IndusLaw, founding partner & angler investor, Kartik Ganapathy, and Srihari (Sri) Mulgund, Mobility partner of EY-Parthenon, and more…

IndusLaw, Kartik Ganapathy, founding partner & angler investor, also expresses his view on “Sustainable Solution”, states that the Indian startup space not only focuses on technology & ecosystem, but social aspects have also topped their theme for innovations, also gives value to a customer to adopt electric vehicles that will help you as well as the economy also.

IVCA-EY-Induslaw also reveals some amazing facts & opportunities that will come in the EV industry, I would greet thanks to all EY and IndusLaw teams for collaborations with IVCA inputting together, said President of IVCA, Rajat Tandon.

Various investors & experts joined this event, almost all experts feel that there is a need for the government & larger investor community to come together and work towards sustainable development that will help to grow the EV sector.

In the meetup, Srihari (Sri) Mulgund, EY-Parthenon mobility partner also put his view on “Sustainable solutions”. Said that “Electrification of Indian mobility ” is a lifetime opportunity to rebuild the future of India’s automotive sector.

Electrification has leveled the playing field across the value chain and Indian players must acknowledge this new dynamic and increasingly work towards becoming a global automotive powerhouse of the future.
Said Mulgund
Technology will be a key enabler for a successful transition and given that technology is evolving faster than ever, the player need to make multiple bets to survive and grow during this transition hence, capital becomes a strategic lever as we embark on this journey to electrify mobility
Mulgund Said

With this Point, Kartik also said that  In a world ripe with innovation but rifled with various stresses this is the right time to enter electric automobiles. IndusLaw is happy to be part of cleaner greener locomotion.

There are challenges to solve and improvements to be made, and writing this report was a signal of IndusLaw’s intent to be part of an enduring and sustainable solution
Said Kartik.

IVCA also posted on Twitter,

The FADA(Federation of Automobile Dealers Associations of India) is the apex national body of the Automobile Retail Industry in India engaged in the sale, and service.

As per the FADA report, 11,19,096 electric two-wheeler were registered in India on June 22, 2022.

46040 electric three-wheeler were registered in India till now.

26,0683 electric commercial vehicles were registered in India till now.

When talking about the charging stations in India, has a total of 10,76,420 EVs but only 1,742 Public Charging Stations (PCS) are available in India right now as per the BEE(Bureau of Energy Efficiency ) report. this criteria indicates that India needs more charging stations to fulfilled customer requirements

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