Electric Vehicle Revolution in India: A Comprehensive and Comparative Study of Ev Business in India

Abstract

There has been a growth of Electric vehicles all over the globe due to reasons like air pollution, environmental impact, and climate change. This paper aims to study the growth of EV business in India. The study is based on secondary data collected for EV two-wheelers, three-wheelers, and four-wheelers, major market players of EV, petrol, and diesel vehicles. Tools such as Kruskal Wallis, and DSCF pairwise comparisons have been employed using Jamovi statistical software to analyse and understand the growth of EVs in India. The result of the study shows that India’s EV market has seen significant growth in recent years, with a shift towards EVs and an increased focus on sustainability. While the share of EVs is currently marginal, it is expected to surpass petrol and diesel vehicles in a few decades. EV 2W is leading the market followed by EV 3W and EV 4W in India.