EV and its impact on India
With 100 percent FDI possible, new manufacturing hubs, and an increased push to improve charging infrastructure, India's electric vehicle industry is picking up speed. Other growth drivers for the Indian EV industry include federal subsidies and policy favouring deeper discounts for Indian-made electric two-wheelers, as well as a boost for localised ACC battery storage production. Furthermore, in September 2021, Cabinet approved a production-linked incentive scheme for the automotive sector to boost the production of electric vehicles and hydrogen fuel cell vehicles. The global automotive industry is currently undergoing a paradigm shift as it attempts to transition to alternative/less energy intensive options. India, too, is investing in the transition to electric mobility. The cost of oil imports, rising pollution, and international commitments to combat global climate change are just a few of the factors driving India's recent policies to accelerate the transition to...