Electric vechicle sales to increase soon!
Source: https://motoroctane.com/news/231420-ev-sales-to-increase-soon-know-how
Author: Harshad Pawaskar
The EV segment in India has seen exponential growth in the last year. Experts believe that this segment is expected to grow to a size of $150 billion by 2030 and attain 30 percent market share in the next eight years. Recently, with the unveiling of the latest budget came the battery swapping policy that will surely boost the growth of the EV ecosystem in the country. In this article, we will discuss the battery swapping policy discussed in the Union Budget and how it will make EVs more popular in the coming days. Big brands like Honda, Yamaha, KTM, and Piaggio have already formed a consortium named ‘The Swappable Batteries Motorcycle Consortium’ (SBMC). The SBMC aims to broaden the use of light electric vehicles, such as scooters, mopeds, and motorcycles while supporting more sustainable management of their batteries. So once these popular brands get their EVs for sale in the market, swapping batteries will be a common feature quickly.