CURRENT EV INDUSTRY IN INDIA:

The global electric vehicle (EV) market is developing exponentially making itself the fastest growing industry with around 8.3% of the global share.

The electric vehicle market has been on a path to positive growth and the year 2021 saw substantial sales, especially in the electric two-wheeler category in India. The total sales of electric two-wheelers, including high-speed and low-speed, in the 12-month period (January-December) in 2021 increased by 132% over the corresponding year 2020. The industry registered sales of 2,33,971 units against 1,00,736 units sold in 2020.

POTENTIAL :

As per the IANS recent report, Currently, India has more than 17 cr 2wheelers on road, consuming more than 9 cr liter petrol every day.

These numbers are revealing the importance of E-mobility at a massive level in India.

When we talk about the last mile delivery, the no of 2wheel delivery vehicles in India is currently 20 lacs + and is increasing proportionately with increasing delivery industry statistics, The CAGR of the Last mile industry is 16.5% predicted for the next 5 years.

Assuming the growth or increase of 2wheeler on road will be exactly proportional to the growth of industry, the below numbers are the prediction of additional vehicles requirement in last-mile delivery.

This will enhance and create many opportunities and open various income doors for low saving , low income households to avail the financial aid and create a better , stable future .

ENVISION BETTER , EQUAL WORLD WITH NEW SOCIALLY RESPONSIBLE FINTECHS….

The new fleet in the coming five years will be around 50% of the total fleet. Having all new fleet as EV will be a commendable achievement and can create a larger positive impact on the environment.

EVs will become a game changer for the segment as e-commerce players look to reduce their carbon footprint.

Seeing the government mandate and perseverance on EV mobility in the delivery segment, the industry will soon reach its ideal environment for EV ecosystem.

Here is the SWOT analysis for EV vehicles in last-mile delivery. There are enough reasons for India to move forward rapidly and grow EV infrastructure and make the Socio-economic reforms favorable for Electric vehicles.

MEASURE FOR ERADICATION OF THREATS AND WEAKNESSES :

Considering the government initiative and provisions for EV segment in the form of adequate subsidies, reduction in GST and other taxes, RTO norms and mandates of EV specs, and persistence on increasing the EV vehicles in the governmental transport sector as well as the private sector, the EV industry is surely going to evolve in the fastest time with specific resolutions to all the threats it currently is pertaining.