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Jul 28 2021


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8th India e-Mobility Conclave 2021 (IMC 2021) – India

India is poised to become one of the largest electric mobility markets globally in the coming decade with the Indian government’s drive to curb pollution and reduce reliance on import-dependent fossil fuels. Although we are still in the infancy stage of EV adoption, changes in the technology landscape and due to the government’s focussed vision, the coming years will see EV sales surge in the sub-continent. Tesla’s entry into India will ensure a slew of quality products in the EV market which will bring about healthy competition between global and Indian players.
EV sales in India stood at 3,80,000 in 2019-20, and the EV battery market at 5.4GWh in the same year. IESA expects the EV market to grow at a compound annual growth rate of 44 percent between 2020-2027, and to hit a 6.34 million annual unit sale by 2027. The annual battery demand is forecasted to grow at 32 percent to hit 50GWh by 2027. Of this, 40+GWh will be lithium-ion batteries. The battery market potential was estimated at $580 million in 2019 and is forecasted to grow to $14.9 billion by 2027. To boost indigenous manufacturing, the cabinet recently approved a production linked incentive scheme for 10 sectors, including Auto and Auto components and Advanced Cell Chemistry Battery.

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