Automotive - Bengaluru, Karnataka, India
The future of transport is evolving. Our analysis points to a gradual but exponential rise in electric vehicle (EV) sales globally, driven by rapidly changing EV economics and technological innovations. If EV stock rises as we expect it to, we'll see almost 5.5 million barrels per day of gasoline and diesel demand displacedThe Indian Automobile Industry is currently ranked 5th largest in the world and India is moving with a vision of 100% electric vehicles by 2030.The requirement of mobility in India is set to change dramatically in the near future to cater to the requirement of 1.30 billion+ population. The past modes of transport and infrastructure will not suffice in the coming years. Recognizing this aspect, the Government of India is working towards developing a mobility option which is ‘Shared, Connected and Electric, most industry experts indicate that around 40-45% EV conversion by 2030 is a realistic expectation.The growth of the electric car industry in India can largely be made possible with ease only by increasing the network of fast-charging stations/Fast chargers made available in the shortest distance and readily accessible.
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