India would need 400,000 charging stations by 2026
The cost of a battery accounts for 40–50% of the overall production cost
Not only India, but all of the world's top automakers have concluded that electric vehicles are the way of the future. With the arrival of e-mobility, the Indian automobile sector is undergoing a fundamental transformation. Electric vehicles are less expensive to operate, require less maintenance, and are better for the environment than their internal combustion engine equivalents (ICEs). The government's demand for incentives under the Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles (FAME)-II Scheme, as well as different tax breaks under state EV policies, have made EVs an appealing alternative.