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ABSTRACT
This study aims to determine the influential factors for EV industry in India. In India, EV adoption has started slowly and still there is a lot of scope for improvement.
If we look at the EV segment with respect to Indian market, then there are lots of factors which directly or indirectly influence the EV adaptability. This study is aimed at identifying such factors based on the literature review and other publications available in this area.
Many factors influence the EV segment such as Availability of technology, innovation and skill for manufacturing the components indigenously. It also requires Rear Earth Metal which goes into manufacturing of Battery and Electric motor parts. Single charge range also determines the customer preference over conventional IC powered vehicle to Battery powered vehicle.
Other major factors, which affects the EV growth is availability of charging infrastructure, alternatives and Grid readiness to handle potential increase. Last but most important factor is Fuel prices, which will make EV a buying preposition. This all need consistent Government Framework and Policy guideline.
Keywords: electric vehicle adoption; driving range; innovation; battery performance; Grid; Government policy
1.0 APPROACH
Literature review approach has been used for identifying factors affecting EV adaptability. A literature review is significant, an integral and valid part of any study to identify the conceptual content of the field. Available literature, articles and publications were referred for this purpose.
2.0 INTRODUCTION
The Indian automobile industry is one of the driving forces of the economy, contributing largely to the country's manufacturing GDP (gross domestic product). The sector also generates large direct and indirect employment. The Indian automobile market pipped Germany in 2018, to become the fourth-largest in the world. In the last decade, there were phenomenal growth, two-wheelers in India has nearly trebled, the production of passenger vehicles and commercial vehicles in the country has doubled.
According to Indian Auto Industry status report 2020, India is also a prominent auto exporter and has strong export growth expectations for the near future. Overall automobile exports from India grew at 6.86 per cent CAGR between FY13-18.
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