This study aims to understand the scope, landscape, and policy details of electric vehicles and their components in the Indian market.
The client aims to gain a clear picture of the Indian xEV market so they can assess the possibility of making inroads as a component manufacturer for electric vehicles.
OEM-wise data of 4-wheelers (including vans, trucks, and buses) and their registration figures were catalogued. The data was separated by vehicle class (M1, M2, N1 etc.) and xEV penetration was mapped for each class.
Registration projections in each vehicle category were made up to 2035, including projections for overall xEV penetration. EV component supplier names were found for specific OEMs, and a competitive benchmarking was performed to see which component suppliers hold how much share in India’s EV component space. Component pricing and market landscape analysis were used to determine the potential earnings of the client.
xEV policies and taxation details were parsed to ascertain the potential benefit to the client. These policies included details on benefits to manufacturers of EVs and EV components, incentives for local and export production, and import tax exemptions. Policies were also analyzed to gauge the future policy landscape for EVs and how that would affect the market going forward.
The client was elaborately informed on the existing market & competition landscape, projections for different vehicle categories, overall market opportunity, the benefits of local production vs. import, and relevant policy & tax details with strategic recommendations.
