Earlier this week KPMG and CII launched the report ‘Shifting gears: The evolving electric vehicle landscape in India’. Among other things, it offers a holistic view of how EVs are emerging as a disruptive force, with OEMs making investments in product development, and players across the ecosystem testing new business models. “Since the running cost of EVs is much lower than ICE vehicles (one-tenth for 2W and 3W), a strong case emerges for a shift to EVs in B2B,” the report notes. Many large B2B players in e-commerce, grocery, food, couriers have been piloting EVs and some have moved to advanced stages of deployment.
– KPMG in India expects 25-35% 2W penetration, and 65-75% in 3Ws by 2030;
– 4W passenger vehicle (PV) electrification is expected to follow, with 10-15% penetration in the personal segment and 20-30% in the commercial segment by 2030;
– Also, 10-12% of the bus market is expected to be electrified by 2030;
– Innovative business models such as battery swapping will go mainstream, and this will enable widespread EV adoption.
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