EVs are taking charge!
An increase in CO2 emissions has led to a switch to alternative energy options for the logistics industry. While electric vehicles (EVs) have been around for a long time, the level of innovation and interest in the space has accelerated over the past decade.?
Big companies have rapidly shifted towards economical and environmental-friendly electric vehicles for their logistics solutions. The Indian EV Market has seen gradual growth over the years. The EV market in India stood at USD 5 billion in 2020, and it is predicted to reach USD 47 billion by 2026. This is a CAGR of more than 44% during 2021-2026. The EV’s market share of automobiles is continuously expounding, in intra-city transport, and last and mid-mile delivery.?
In terms of performance between EVs and their internal combustion engine (ICE) counterparts, EVs, fare better than ICE vehicles on a range of transport policy goals, including:
EVs are, therefore, emerging as the preferred clean technology for the future of mobility. The economics of EVs has also improved significantly, while advancements, especially in battery and charging technologies, are expected to reduce costs further.?
India's automotive industry has long envisioned EVs as a game changer. A desire to reduce pollution levels and dependence on oil imports has bolstered the case for EV adoption