The electric car revolution is far from being a reality, but it’s here, and it will have a significant impact on the Indian automotive landscape in the next few years. With the global average price of lithium-ion batteries at an all-time low, automakers are gearing up for the launch of their own electric vehicles, with the Tesla Model 3 being the best-known player in the space. We’ve also seen a host of electric vans and trucks coming to India, with several of them being supplied by the likes of Mahindra and Mahindra, Tata Motors, Honda, and Ashok Leyland.
The country is aiming to ramp up its electric vehicle fleet and the government has been talking about allocating more funds for this purpose. To achieve this, the Central government has declared that it will provide a subsidy of up to ₹50000 per car until 2019, which is the current FAME (Faster Adoption and Manufacturing of Electric Vehicles) target. The government is now talking about doubling that amount to ₹10 lakh. This has increased the number of electric vehicles (EVs) in the country by 10 times from today’s 25,000.