Title: Electric vehicles in India: current trends and future forecasts

Authors: Vishal Shukla

Addresses: Presidency University, Bangalore – 560064, India

Abstract: As the globalisation is increasing, so is the demand for oil-based energy which is ultimately resulting in the rapid fluctuation of the market prices of the crude oil due to the basic principle of economics 'Law of Demand'. This volatility and uncertainty in the crude oil's demand and prices create pressure upon the governments and the policymakers to look alternatives, one of them being the adaptation of green technologies. In line with the developed countries, India, as a developing economy, is all set to plunge into this new innovative market of electric vehicles (EVs) and aims to become a major producer of the EVs for Indian as well as the global markets. So, this research paper aims to explore the expected demand for EVs, the market share and the contribution of the EVs and associated technologies to the foreign trade.

Keywords: disruption; electric vehicle; green technology; Indian economy; innovation; market demand.

DOI: 10.1504/IJEHV.2021.117836

International Journal of Electric and Hybrid Vehicles, 2021 Vol.13 No.2, pp.117 - 126

Received: 25 Sep 2019
Accepted: 30 Oct 2019
Published online: 04 Oct 2021 *

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