February 9, 2025

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Understanding EV Adoption Curve: Growth Factor and Opportunities 

Understanding EV Adoption Curve: Growth Factor and Opportunities 

Understanding EV Adoption Curve: Growth Factor and Opportunities 

India is one of the world’s largest automakers and here the role of electrification of vehicles will play a huge role as it is something that can change the economic structure of the company.  

One of the major sources of growth is the Indian government, which is pushing the country to the next phase of development. In the electric car segment, the role of technology is going to play a pivotal role when it comes to controlling the risks and adoption of such cars in the country. 

In this blog, we will understand the current EV ecosystem and adoption that will allow people to have an understanding of when to shift towards EV cars and what are the costs of it. Also, the challenging factors like the gap in technology and, on the other side, the role of financing all these elements will be discussed. 

The Growth Trajectory of India’s EV Market 

India is the growth story for the next few decades, and people in the country can turn any problem into serious business with the right understanding and TAM size. India’s EV market has a huge space, and for that, one can look for effective options. 

The market for EVs is growing due to the financial drive that the government is doing in this segment, and the customers are getting better loan offers with reduced interest when they are buying an EV vehicle by taking a loan. A customer can get in touch with a DSA partner, and with their help, one can finance their first EV car and get that to hit the road. 

In FY2022, more than 4.5 lakh units of EV vehicles were sold in the country, and it’s only going to increase as more private players are coming into this space with the new model that is only pushing the market to the next level. 

Environmental Guidelines the Country Can Meet with EV Adoption 

The adoption of EVs in India is more of a necessity as some of the majorly polluted states in the world come to India, and gasoline-led cars are one such reason who are behind this pollution. 

The electric vehicle is the market that will not only bring new opportunities for the automakers it’s a chance for other tertiary businesses to make an investment and get good returns. From the society and government’s perspective, certain factors help a country to lead the next phase of change. 

  1. The Chance to Reduce Air Pollution 

The first advantage of EV adoption is that it will reduce the pollution from the air, and road travel become a much cleaner experience. Air pollution is one of the major causes of the health crisis in India, and many people are dying due to poor quality of air. 

  1. The Ability to reduce Noise Pollution 

EVs are more silent, and therefore, there is less chance of noise pollution. And hence, it’s one of the main benefits as it will reduce the noise from the road. Vehicles are more sophisticated, and the reduced noise levels on the road lead to much fewer car accidents that take place every year. 

  1. Improves the Energy Efficiency of the Cars 

Energy efficiency is one such element that makes lower consumption of energy and given higher outputs. Better technology reduces the dependency on energy. EVs can convert 60% of the energy to mechanical energy, making it more efficient than its ICE predecessors. 

Economic Sectors Where Growth Can Be Observed 

There are certain economic benefits when it comes to EV adoption, and some of the industries that can witness growth are as follows. 

  • The Growth in the Real Estate Sector 

The real estate sector will also witness growth from the installation of battery stations at commercial real estate buildings. EV factories are also required, and to establish such facilities, one needs to make factories; hence, the role of real estate is necessary. 

  • A Growth in the Banking Sector

The banking sector can witness growth in the form of loan books from the retail lending space that can come from the EV space. People can search for agents from the apps for DSA, and from that one can get the idea that the banking loan book is yet to rise through this transition space of EVs. 

These are some of the areas where the country can witness the growth potential and find the changes in the upcoming years.