The future of transportation is approaching a turning point. Electric Vehicles (EVs) are invariably considered as a part of the answer whenever oil prices rise or climate change is addressed and discussed.
EVs are still not popular, despite numerous new Indian firms entering various segments of the EV value chain, considerable cash invested in the field, and large-scale execution efforts to reduce the EV Car Prices. It’s 2022, and it appears that electric vehicles have finally reached a tipping point.
Best Electric Cars in India
Some of the Best Electric Cars in India are Tata Nexon EV, Tata Tigor EV, Hyundai Kona Electric, Mahindra e2oPlus, and a few more. The options are pretty much limited, but with time, we will witness cheaper EV Car Prices and a lot more options to choose from. And over the years, we will witness better mileage in the battery cars.
Why has EV adoption been so slow? (so far)
There are three main reasons for the slow growth of EVs in India:
1. Lack of Product Innovation
2. Cost Concerns
3. Lack of Charging Stations
How far can an electric vehicle travel?
The mileage is critical for EV adoption since locating charging stations is the number one hurdle for potential EV drivers. As a result, one of the most important considerations for drivers contemplating switching electric is range. However, there is no one answer to how far an electric car can travel, and the answer is dependent on the vehicle in question as well as the driving circumstances.
Normally in India, most EVs are giving you 200–300 ideal mileage on a single charge. But with new innovations in the EV sector every day, it won’t be surprising if we see 600–800km range EVs in India very soon.
With increase in demand of enhanced fuel economy and rising fuel prices in vehicle are anticipated to drive vehicle electrification Industry growth globally.
Stringent government policies on harmful emissions from Carbon dioxide and rise in pollution are driving the electrification industry from past few years.
This market is likely to experience high growth due to rising requirement for electric systems in tax exemptions, vehicles and subsidies by the government with increase in diesel and petrol prices.
Major Products in Electric Vehicles Market are Electric power steering, electric water pump, thermoelectric generator, electric oil pump, electric vacuum pump, electric mobile phone charger and liquid heater PTC.Browse Details of Report @ https://www.hexaresearch.com/research-report/electric-vehicles-ev-industry/Key players for Electric Vehicles market are JTEKT Corporation, Visteon Corporation, NSK ltd, Denso Corporation, Friedrichshafen AG, BorgWarner Inc and Nexteer Automotive Group LtdLargest Electric Power steering is expected to contribute for the major market share due to potential of ensuring the safe and secure driving in vehicles from hydraulic power steering.
This segment is further estimated to provide low energy consumption, better handling and reduced weight in vehicles which ultimately gives a strong place to market of Electric Power Systems.
North America is likely to witness major market share due to its growth in vehicle market, rigorous norms for emissions, and government subsidize provided for electric vehicles.
