
2019-02-13T09:54:27
India plans that Electric Vehicles should have at least a 15% market share in the coming 5 years. Clearly this will greatly help in reducing the import bill for Oil which is paid in US $ saving India precious foreign exchange and leaving it available for more productive uses. Worldwide the EV market share is growing at a fast pace. Over THREE million EV passenger vehicles have been sold in the last year. In India one of the factors holding back a fast rate of growth is the indigenous battery manufacturing and lack of electric vehicle fast charging infrastructure. While a number of manufacturers have started building the manufacturing facilities for battery, fast charging infrastructure needs to catch up. With easy availability of charging stations domestically manufactured it is probable that the explosive growth in this segment is only at an arms distance.
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