The EV Market in India has been witnessing one of the fastest recoveries in 2021 from the pandemic induced slowdown in 2020. In 2021 the annual sales of EVs in India reached 4,67,000+ units.
While 2 wheelers have been leading the sales quantum in India, with 50% of the total market share. Besides, promising growth has been observed in the other segments of EVs. The EV policy in the country is supportive to drive EV demand; the Financial Budget 2022 focuses on the creation of special EV mobility zones, creation of EV Battery swapping policy. From the supply side, the Government of India has been taking active steps to domesticate supply and reduce reliance on imports. As such 3 Production Linked Incentive schemes were announced- for automobiles and auto components, for Advanced Chemistry Cell battery manufacturing, and for semi-conductors for a total outlay of INR 76,000 Crores.
Protecting Domestic Manufacturers: In order to protect domestic manufacturers and make them cost competitive, along with PLIs the Government has also increased Basic customs duty on battery packs being imported. At present a BCD of 10% is applicable on battery packs and a 5% BCD is applicable on battery cells.
Key Points covered in the report:
- Sales trend and market overview by segments
- Battery demand analysis by segments
- Market share analysis of OEMs across segments
- Battery Technology share analysis across segments
- Model wise-battery pack size and chemistry across segments
- Lithium-ion battery supply chain in India for EVs
- Battery pack price trend forecast
- Central and State EV policies
- Auto Ancillary Market Overview
- Developing Motor and Controller Supply Chain in India
- Key players across BMS, Motor, Controllers in India
- Industry readiness in terms of localization
- EV Market Forecast in terms of Unit sales across segments between 2022-2030
- Battery Demand Forecast in terms of MWh across segments between 2022-2030
- Battery Market Opportunity in terms of INR Crore and Million $