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India is becoming one of the most popular markets for electric vehicles

Every year on September 9th, World Electric Vehicle Day is commemorated. The day is dedicated to celebrating e-mobility. People throughout the world are being educated about the advantages of electric vehicles through special awareness programs. Green.TV, a sustainability media company, came up with the idea for World EV Day. In 2020, the inaugural World Electric Vehicle Day was observed. It was mostly a social media initiative that urged drivers to recognize the advantages of electric vehicles and to commit to driving an electric vehicle instead of a car that ran on conventional fuels in the future.

World Electric Vehicle Day is held in conjunction with EV Summit of Green.TV. It brings together the world’s e-mobility professionals to discuss ways to advance electrification and sustainable transportation.

While China is the world’s largest EV market, India quickly became the preferred destination for automakers. The government has pledged to assist the electric vehicle sector in any way feasible. Notably, India’s automobile sector is the world’s fifth-largest. By 2030, it is expected to be the third-largest.

The nation is already attempting to transition to electric automobiles. Tesla, the world’s largest electric vehicle and green power manufacturer, recently announced its expansion into India. Tesla India Motors, as well as Energy Pvt Ltd, a subsidiary of the American giant, was established in Bengaluru.

“For the past several years, the Indian electric vehicle market has been growing at an exponential rate. “Government measures like FAME-II and severe regulations on fuel effectiveness and emissions, along with rising customer demand, have allowed the industry for electrified cars to boom,” said S Venkat, director of SKF India’s Automotive Business.

“As consumers become increasingly aware of the environmental effect of fossil fuel-based automobiles, EV adoption will skyrocket in the coming years.” Furthermore, rising fuel prices, along with government subsidies, have made purchasing an electric vehicle a more cost-effective option.” EV Plugs Co-Founder Manish Narang stated. Suzuki, located in Japan, has already stated that it will deploy its first electric vehicle in India. Tata Motors, another domestic automaker, expects to release ten electric vehicles by 2025. In the EV market, it presently has two vehicles: the Nexon SUV and the Tigor sedan. Since its inception last year, the business has sold more than 4,000 Nexon EV units. Last month, it debuted the Tigor EV.

Mahindra & Mahindra, another Indian automaker, is also dabbling in the electric vehicle market. The corporation plans to invest Rs 3,000 crore in the electric vehicle sector in the next three years. By 2025, it hopes to have 5 lakh electric cars on the road.

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