Feasibility Analysis of EV Manufacturing in the Growing Electrification Industry in India

India is an emerging unlimited market for electric vehicle industries, witnessed through the Feasibility study of EV manufacturing in India where efforts to protect the environment and reduce dependence on imported petroleum have boosted the EV industry. Government initiatives, such as the FAME II (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) scheme, and energy promotion measures such as the Green Revolution have made the sector more attractive for EV manufacturing industries.

Looking at their future, the Indian youth is getting attracted towards the digital age of electric automobiles. Other initiatives of the Indian government include subsidies for the purchase of electric vehicles under the FAME scheme, which has significantly reduced the initial cost and made them quite affordable for individuals. Earlier, the FAME II subsidy was limited to about 40% of the ex-factory pricing.


According to the Feasibility Study of EV Manufacturing in India, the highest growth was witnessed in electric two-wheelers, which grew by almost half from FY22 to 49% in FY23. Ola Electric, Hero Electric and Okinawa Autotech are the top three players in registered vehicle sales, with a market share of over 45%.

India has a huge space for the EV manufacturing industry considering its population.


It addresses challenges.High cost of batteries Promote local production and research.Lack of charging infrastructure Adopt public-private partnership (PPP) model.Limited customer awareness Extensive publicity and training programmes

Lack of technical knowledge Set up skill development and training centres.


With the help of Indian government support, growing environmental concerns and technological advancement, it can be made a profitable business. However, the EV manufacturing industry is still in its nascent stage and faces some challenges. With the right strategy and idea, the business can be made profitable.

  • Cooperation of government and private sectors is required to set up EV manufacturing units.

  • Strengthen the local supply chain and focus more on investment.

  • Provide better offers along with incentives and necessary facilities for EV users.


Hiring India Watch for better assistance on research and Feasibility study of Electric Vehicle manufacturing in India will help in growing the business. 
Location: India

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