Since its inception, the EV sector has continuously evolved with time. Now we are at the stage where the industry has already completed its dipstick test, and the results have been quite promising. EV manufacturers are always attempting to improve technology and lower the overall cost. According to data, EV shipment in India has increased year on year, and the Indian market is geared for growth. India is working hard to take the lead in the global automotive and electrification of the mobility market. Start-ups and experienced players are both working hard to support this sprint. The market will continue to expand as technology advances. This indicates that adoption and product development will be completed more quickly.
Electric vehicles came into existence in the 19th century. But high cost and discovering more natural oil reserves laid the roads to the future for ICE vehicles. However, during twenty first century the knowledge of the importance to preserve the environment increased, several state and national governments’ EV-friendly policies, total ownership of EVs has been optimized these all factors has contributed to the development of the EV adoption.
Every aspect of an EV ecosystem is tied with Indian start-ups and legacy businesses. Products, batteries, switching, charging, and IoT are some of the key areas where the industry is constantly focusing for R&D. Obviously, these advancements are both time-consuming and expensive. It is difficult for a single company to develop all areas of the sector because it is costly and time-consuming. As a result, it is critical to prioritise technology sharing.
After-sales service and customer satisfaction are crucial elements in convincing an individual to choose an EV. Sharing technology will aid in better serving Indian customers and lowering costs. If your customer is pleased with your vehicle and the after-sales service, then we can say your EV has been a success. This cannot be accomplished individually in a big country like India. Apart from these, there are two key points to lookout for EV ecosystem: First is safety, which has drawn a special attention and is quickly, becoming the topic of conversation. Working on this will be critical, and it will be EV’s pillar of strength. Second key point is that of EV Financing. This will undoubtedly play a significant role in EV adoption. The sector will grow as EV financing becomes simpler and less expensive.