THE FUTURE OF ELECTRIC VEHICLE INDUSTRY IN INDIA: TRENDS AND PROSPECTS
Electric Vehicles (EVs), Battery Technology, Consumer Preferences
India is currently one of the leading global markets for automobiles, and its growth is expected to continue due to a flourishing middle-class population and steady economic progress. Over the past few years, there has been significant discussion regarding fuel prices, including the deregulation of petrol prices. Additionally, concerns about potential disruptions in Middle- Eastern fuel supplies have intensified debates on energy conservation and the exploration of alternative technologies. The success of alternative technologies, such as electric vehicles (EVs), in the Indian market, as well as comparable markets, relies on advancements in battery technology, increased driving ranges, government incentives, regulations, affordability, and the development of efficient charging infrastructure. Conventional automobile manufacturers, primarily focused on diesel and petrol engines, are now incorporating electric technology as a standalone offering rather than merely a supplement to traditional engines. Furthermore, specialized EV manufacturers have emerged worldwide to meet the growing demand for electric vehicles. Although many factors influencing the EV market are theoretically understood, we conducted a consumer survey to examine potential consumers' perceptions and expectations regarding alternative technologies in the automotive sector, specifically EVs. Predicting future demand for electric vehicles posed certain challenges, as it involved gauging consumer preferences for a relatively unfamiliar product. Hence, our survey primarily aimed to uncover consumers' familiarity with EV technologies and products, their opinions on price, brand, driving range, charging infrastructure, and ownership costs. We also examined how consumers envisioned incorporating an EV into their lifestyle, considering various demographic parameters.
"THE FUTURE OF ELECTRIC VEHICLE INDUSTRY IN INDIA: TRENDS AND PROSPECTS", IJSDR - International Journal of Scientific Development and Research (www.IJSDR.org), ISSN:2455-2631, Vol.9, Issue 11, page no.255 - 260, November-2024, Available :https://ijsdr.org/papers/IJSDR2411033.pdf
Volume 9
Issue 11,
November-2024
Pages : 255 - 260
Paper Reg. ID: IJSDR_212734
Published Paper Id: IJSDR2411033
Downloads: 000346998
Research Area: Management
Country: delhi, Delhi, India
ISSN: 2455-2631 | IMPACT FACTOR: 9.15 Calculated By Google Scholar | ESTD YEAR: 2016
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 9.15 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator
Publisher: IJSDR(IJ Publication) Janvi Wave
