
Summary:
The Indian mobility industry is expected to reach Rs. 51,92,400 crore (US$ 600 billion) by 2030, with emerging sectors such as electric shared and connected mobility contributing Rs. 8,65,400 crore (US$ 100 billion). Traditional sectors like ICE vehicles, finance, and insurance will remain dominant. EVs will see significant growth, with four-wheeler EVs rising from 2.2% in FY24 to 15-17% by FY30 and two-wheelers from 5.4% to 35-40%.
According to the survey, key challenges for the EV industry include a lack of charging infrastructure (51%) and high vehicle costs (45%). Consumer preferences are shifting: four-wheeler buyers prioritize sophistication and technology, while two-wheeler buyers focus on practicality and affordability. Women influence 52% of EV purchases, surpassing their role in traditional vehicles. The demand for connected features, such as infotainment and parking assistance, highlights the importance of technological solutions as the industry evolves.
Source: IBEF
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