Hello and Namaste Everyone,
The auto industry is going through a lot of innovations and this is the time for electric vehicles. In India, there are a few manufacturers who are doing good in the electric vehicles segment but still, there are a few manufacturers that are lagging. Maruti Suzuki is one of the biggest players in the Indian car market and they have still not launched their electric vehicle. Tata is another brand that is trying to grow its market share and they have a bunch of electric cars available which shows that they are believing and focusing more on innovation whereas the leader brand is not doing this. I believe that there are brands that hold a bigger share of the market and should take the lead but sadly they do not.
As I said Maruti Suzuki is the biggest market player in the Indian car market and they hold more than 40% of the market. Still, they do not have any EVs in their portfolio and even they have no plan to do it this year but as per the new sources they are planning to launch their first electric vehicle in 2025. The world is moving faster and technology is also evolving so this is the time when brands need to follow a proactive approach. We can't forget the example of Nokia which was a leading brand at some point in time but how they lost the game. I hope that this brand called Maruti Suzuki learns from this and does not repeat the same mistake because in India the auto market is also growing and brands need to understand this. A lot of people are moving to electric vehicles and even I am thinking about it to upgrade in the next few years.
The only problem I think could be the available infrastructure for the charging. I don't know how things are as of now because I have never experienced about ev charging infra. As far as petrol and diesel vehicles are concerned all are available there and we need not struggle anymore because there are so many fuel stations available around us and you hardly face any problem with this. Moving to the electric vehicle will be a cost-saving also because the running cost comes down a lot whereas it is very high when we drive the vehicle on diesel or petrol. Even some manufacturers are focusing on the CNG vehicles but I think that is also not a good solution because in small cities availability is another issue.
EV sales in India nearly doubled in 2023, and are expected to increase by 66% in 2024. By 2030, EVs are expected to make up about one-third of all passenger vehicle sales in India. The Indian EV market is expected to grow from $3.21 billion in 2022 to $113.99 billion by 2029
There are certain reasons why Electric vehicles are good. This is a good option for the planet as well as for us to save running costs. There is also less maintenance on the vehicle as compared to the petrol vehicle and this is another reason why this law moves to the electric vehicle from traditional vehicles. Now there are so many options, including the basic and mid-level cars. Brands like Tesla are leading worldwide but this brand is not available in India maybe soon it will have its presence.
The EV sector is growing in parts and even two Wheelers are getting more demand in the market which is combining for a nice growth overall in the country. There is a popular brand in the Wheeler category and it is called Ola whereas Tata is the biggest brand in the car segment and both are Indian brands. It will be interesting to see how things will shape up in the coming year and if will there be another brand on the list that will try to cater to EV vehicles and try to have a better market share.
Thank you so much
Stay Safe
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