India is currently witnessing an EV wave. The electric vehicles (EV) sector in India has witnessed significant year-on-year growth, with an increase in sale volumes to ~1.53 million EVs in the calendar year 2023 (as against ~1 million in 2022), which indicates a growth of 50% in sales.
The Indian EV sector is also expected to grow with a CAGR of 45% till 2030 showcasing that the momentum would continue in the years to come. It has also been interesting to witness new entrants in the segment (as distinct from the traditional OEMs) such as Ola, Ather, and others disrupting the EV ecosystem and playing a major role in spurring growth in the EV segment.
Please click here to read the full article by Venkatesh Raman Prasad, published in Financial Express.
Venkatesh practices Corporate and Civil laws with a focus on Infrastructure, Energy and Foreign investment.