| |APRIL 20211970% for commercial cars, 40% for buses and 80% for 2 wheelers and 3 wheelers by 2030.On the other hand, battery producers in India have come up with innovative business models such as battery swapping which has enabled widespread EV adoption. It alleviates issues of long charging times, range anxiety, high upfront cost and battery reliability concerns for the EV owners.In line with Make-in- Indian initiatives and global supply chain realignments , the government is strongly pushing localization of production to achieve the twin objective of self-reliance and job creation. This will create opportunities for setting up infrastructure across the EV value chain, spanning charging and battery manufacturing CHALLENGESThe penetration of EV in 4 wheelers has remained extremely low at less than 1% as several gaps exists in the market such as limited number of products, high prices, insufficient battery life, low performance and an underdeveloped charging ecosystem. It is understood that unless these gaps are filled growth of EVs in 4 wheelers will not be picked up.On the other hand, as more EVs enter Indian market, the challenge of sustainable end-of-life practices for battery disposal and recycling also arises. At present, India has very little recycling infrastructure, implying that batteries are discarded or disposed in landfills. Currently only a few states EV policies provide guidelines and incentives on battery recycling. All in all the development of battery industry, charging infrastructure and local supply chains are critical for EV adoption. With the objective of transforming India into a manufacturing and exports hub, the government has been promoting the localization of production across the EV value chain. Other than batteries India has strong capabilities in certain EV components and can emerge as a hub for manufacturing as well as exports. Auto components players in India are increasingly seeking to develop the requisite technological capabilities and capacities in these areas.To drive EV adoption, OEMs (Original Equipment Manufacturers) and the government both at state and central levels, need to work collaboratively towards an integrated policy, creating a conducive ecosystem for India's electric mobility vision. A combination of enablers policy measures, infrastructure development, Total cost of ownership (TCO)parity, and a market promise to fast-track the shift to electric, heralding the dawn of a new era for the automotive industry. The opportunity of EV has long been seen as a game changer for the automotive segment in India. A desire to reduce pollution levels and dependence on oil imports has bolstered the case for EV adoption
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