WORLD EV DAY 2022: People celebrate e-mobility with World EV Day on September 9. Globally, specialised awareness campaigns are organised to educate people about the benefits of electric vehicles. The Indian EV car market has also been evolving at breakneck speed over the past couple of years. The prospects of EVs in India look bright with more consumers exploring the option of shifting to electric cars from the traditional internal combustion engine vehicles. The rising fuel prices, combined with government incentives, have made purchasing an EV a more financially viable option.
The Indian market has seen a slew of exciting EV launches from both traditional auto giants and evolving new players. In the electric two-wheeler space, emerging players like Ola and Ather have been leading the revolution whereas the EV passenger car segment is being dominated by traditional automakers.
Auto giants like Hyundai, Tata and MG have already made their mark in the Indian EV space whereas the country’s largest automaker, Maruti Suzuki, is expected to launch its first electric car in India by 2025.
Mahindra is also gearing up to enter the segment with the launch of its first full-fledged passenger EV. The upcoming car will be an all-electric version of the company’s popular midsize ICE SUV XUV 300.
Hyundai entered the Indian segment with the launch of Kona in 2019 whereas MG introduced its ZS EV in 2020.
But it has been the Indian brand, Tata, that so far has dominated the EV car space in the country. Tata presently sells most electric cars in India. The company reported the highest-ever annual EV sales of 19,106 units in FY22, up 353 per cent from FY21.
Tata presently offers two EVs in its line-up including the electric variant of its successful compact SUV Nexon and Tigor EV.
Tata will be investing Rs 15,000 in the EV segment over the next five years. The investment will be used to ramp up its EV production and launch new products in the market