Sutton Real Estate is one of the most respected Syracuse rental property management companies,Our approach is based on providing our clients with a comprehensive menu of services to best meet their financial goals. Our experienced team of commercial and residential property management professionals works closely with clients to create a management plan tailored specifically to their individual properties.
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India Electric Vehicle Market Share, Growth, Development and Demand Forecast to 2030

In April 2019, the Indian government launched Phase 2 of the FAME India scheme with a total investment of INR 10,000 crore; phase 1 of the Fame India scheme was launched in 2014 with an investment of INR 795 crore, which was later increased by another hundred crores. The funds are being used to subsidize electric vehicles (EV) in the country, so that the problem of air pollution can be tackled. As per P&S Intelligence, government support is vital for the Indian electric vehicle market, as without it, EVs would be out of the reach of the masses.

Compared to the long-proven internal combustion engine (ICE) technology, electric propulsion is slightly cost-intensive to achieve. This is majorly because of the high cost of batteries, which makes the overall EV expensive. Moreover, the vehicles also need to be equipped with a high-voltage charging mechanism, which further escalates the purchase cost. This is why the government is not only offering purchase subsidies and tax rebates on EVs, but also bearing a major portion of the cost for research and development (R&D), to come up with cost-effective EV technologies.

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www.psmarketresearch.com

India Electric Vehicle Market Size, Share, Sales & Industry Report to 2030

The Indian Electric Vehicle Market is expected to witness tremendous growth in the coming years, owing to the different initiatives undertaken by the key stakeholders, including impactful government support.

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