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the Report
Electric Vehicles
Charging towards
a bright future
EVs
The Future is Electric
Electric vehicles came into existence before their Internal Combustion Engine (ICE) counterparts. However, by the end of the 19th century, ICE vehicles were able to offer significantly superior performance including higher top speed and a longer driving range at a fraction of the cost. This completely transformed the automobile industry.
Why EVs?
Electric Vehicles Take Charge
A/EVs ARE SIMPLER
EVs have lesser components and live 3.5 times longer than ICE vehicles
| ICE VEHICLES | EVs | |
|---|---|---|
|
150Moving Parts |
24Moving Parts |
|
24Wearing Parts |
11Wearing Parts |
B/EVs ARE MORE POWERFUL
EVs can offer full torque at zero RPM, whereas, ICE vehicles can only operate in a certain RPM range. Thus at lower speeds, EVs are more powerful
C/EVs ARE SMARTER
Electric powertrains are electronically driven whereas ICE vehicles have a higher number of mechanical components as part of their powertrains. EVs are the first enabling step in the overarching automobile disruption
Why EVs?
EVs Have Begun to Make Economic Sense
TOTAL COST OF OWNERSHIP
Electric vehicles have a significantly higher upfront cost, as compared to ICE vehicles, largely on account of battery costs. On the other hand, the operating costs for an EV are much lower.
Thus, Total Cost of Ownership (TCO) is an important and correct assessment of economic comparison between ICE vehicles and EVs.
Indian EV Ecosystem
India Races Ahead
An interplay demanding
coherent development
Download This Exhibit
Indian EV Ecosystem
An EVolving
Market
There are four critical factors
that will drive Electric Vehicle
penetration in India over the
next decade -
A/
Policy
B/
charging
INFRASTRUCTURE
C/
BATTERY
Cost
D/
SUPPLY CHAIN
Localization
Indian EV Ecosystem
An EVolving
Market
Policy, charging infrastructure,
battery price and supply chain
localization will impact TCO and
adoption of EVs in India -
EV Adoption and Market Size by FY25
2 W
0 Billion
3 W
0 Billion
E-Rick
0 Billion
4 W
0 Billion
Bus
0 Billion
= 0 Billion
A Sustainable Future
A New Beginning
THE DAWN OF CLEAN
ENERGY DISRUPTION
It is apt to put the EV transformation in context with the larger picture of clean energy disruption. Today, solar energy has become more economical than thermal power plants, something that was unimaginable 10 years ago.
Electric vehicles are not just about disrupting the ICE automobile regime. They are part of the larger disruption in energy and transportation.
The way of living is going to transform and EVs will be an essential part of the new way of life.
