- Published on June 10, 2022
- In Deep Tech
Can cobots save EVs?
India will have nearly three crore EVs by 2024.
- By Sri Krishna
In 2001, Mahindra introduced Reva (aka revolutionary electric vehicle alternative), marking India's first move towards electric mobility. A decade later, the Ministry of New and Renewable Energy (MNRE) launched an INR 95 crore scheme to incentivise EV manufacturers.
The Indian EV industry is projected to reach USD 150 million market cap by 2030 at a CAGR of 90% during the forecast period (2021-2030), according to the RBSA Advisors report, 'Powered by Power: The EV Industry in India'. As per India's Road Transport and Highways Minister Nitin Gadkari, India will have nearly three crore EVs by 2024.
Though India's EV journey started with Mahindra Reva, the adoption rates of four-wheelers are much less than two-wheelers. But it's not all roses on the two-wheeler front as well. Safety and
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Sri Krishna
Sri Krishna is a technology enthusiast with a professional background in journalism. He believes in writing on subjects that evoke a thought process towards a better world.
When not writing, he indulges his passion for automobiles and poetry.
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