Consumer Discretionary

<p style="text-align: justify;">I am touching base on some extremely critical thought processes in EV for a country Like India.<br />As a country, we are moving ahead in the most versatile manner for the EV as an integral part of our lives. Being the third largest auto market with 1.4 billion people and a vast land area, the auto industry with EV will go hand in hand and surely will lead the way.</p><p style="text-align: justify;">Adopting technology into the mainstream applicability, reachable benefits to the end users, pocket-friendly packages, high-end tech support, and future scalability adds the most inquisitive recipe of EV into the mainstream.</p><p style="text-align: justify;">My exposure to the stakeholders will surely benefit the knowledge share as we connect. The discussion can indeed be a pivot to the launch.</p><p style="text-align: justify;">&nbsp;</p><h2 style="text-align: justify;"><span style="font-size: 14pt;">Past, Present and the Future of EV</span></h2><p style="text-align: justify;">EV India caught its first eye in 1993 with a car named Love Bird by Eddie Electrics. Since then, the shift has been major, especially if we talk about the last seven years. Reva gave the stir the fancy eyes of India&rsquo;s Future. Now, as we speak, the biggest names in the automotive world have started displaying technology and product. Not only the mainstream industry, the TIER 1 and TIER 2 partners are also gaining at breakneck speed to catch up with the ever-changing EV domain.</p><p style="text-align: justify;">By the rate of the present run, by 2030, 60% of the whole will be electric in all means of transport and communication.</p><p style="text-align: justify;">&nbsp;</p><h2 style="text-align: justify;"><span style="font-size: 14pt;">Benefits of EV </span></h2><p style="text-align: justify;">In total, at present, EV is a sector yet to prove its mettle. Going ahead as the technology evolves, materials take a scalable shape. Indeed, it will reach out to the masses and become its most affordable and sought-after source. This surely will remind us of the Industrial Revolution that got the world's people to engage and develop as one.</p><p style="text-align: justify;">EV will surely get into all activities involving us as individuals.</p><p style="text-align: justify;">&nbsp;</p><h2 style="text-align: justify;"><span style="font-size: 14pt;">Way Forward &ndash; As the World See It</span></h2><p style="text-align: justify;">Just a matter of time; in the blink of an eye, EVs will be in all forms in our lives. From the world's perspective, with the increasing mouth to feed, renewable sources of energy (EVs) will be the wall for humanity.</p><p style="text-align: justify;">Depleting natural resources causes much discussion. The world has re-routed itself to adapt to the change and environment, feeling the pain of not doing it in time. This is all for our future generation and the place we call Earth.</p><p style="text-align: justify;">EV is shaping into survival, sustenance, safety, security, and seedable. For our greater generation, the wind of change has taken place. The first Industrial Revolution took one hundred years to get into people's lives.</p><p style="text-align: justify;">It will take only 1/5th for EV to do so. We already have covered seven years. The time is ticking for the greater good.</p><p style="text-align: justify;">&nbsp;</p><p style="text-align: justify;">&nbsp;</p><p style="text-align: justify;"><span style="font-size: 10pt;"><em>This article was contributed by our expert <a href="https://www.linkedin.com/in/mihirrlakshmikashyap/" target="_blank" rel="noopener">Mihirr Lakshmi Kashyap </a></em></span></p><p style="text-align: justify;">&nbsp;</p><p style="text-align: justify;">&nbsp;</p><h3 style="text-align: justify;"><span style="font-size: 18pt;"><span style="font-size: 14pt;">Frequently Asked Questions Answered by Mihirr Lakshmi Kashyap</span>&nbsp;</span></h3><h3 style="text-align: justify;">&nbsp;</h3><h2 style="text-align: justify;"><span style="font-size: 12pt;">1. What needs to be improved in electric vehicles?</span></h2><p style="text-align: justify;"><span style="font-size: 12pt;">Currently, the EV market situation &ndash; affordable technology, accessibility to charging with a common grid, government policies on EV production, and bidirectional charge demand management. </span></p><p style="text-align: justify;">&nbsp;</p><h2 style="text-align: justify;"><span style="font-size: 12pt;">2. What is the major issue with adopting an electric vehicle?</span></h2><p style="text-align: justify;"><span style="font-size: 12pt;">EV Adoption is hindered by &ndash; EV battery cost, common charging infrastructure, range issues, and technical knowledge sharing.</span></p><p style="text-align: justify;">&nbsp;</p><h2 style="text-align: justify;"><span style="font-size: 12pt;">3. How is India promoting electric vehicles?</span></h2><p style="text-align: justify;"><span style="font-size: 12pt;">India is promoting EVs in two ways</span></p><p style="text-align: justify;"><span style="font-size: 12pt;"><strong>Private Level</strong>- </span><span style="font-size: 12pt;">Many private players are getting into manufacturing EVs, making them cost-effective and up-to-date in terms of technology. Vast product line making users explore the market as per pocket and usage. </span></p><p style="text-align: justify;"><span style="font-size: 12pt;"><strong>Government Level</strong>- Financial subsidy policies for users and Mfg.&rsquo;s, aided charging infra, pocket-friendly power tariff. Strict guidelines by central and state governments to execute the same. Budget provisions for the same.</span></p><p style="text-align: justify;">&nbsp;</p><h2 style="text-align: justify;"><span style="font-size: 12pt;">4. What are future trends in electric vehicles?</span></h2><ul style="text-align: justify;"><li><span style="font-size: 12pt;">Future stands strong for EV- by 2035, it will have 70 % market share</span></li><li><span style="font-size: 12pt;">Bigger and better technology</span></li><li><span style="font-size: 12pt;">Multiple power sources for weight to power management</span></li><li><span style="font-size: 12pt;">Advanced electronics with connected vehicles</span></li><li><span style="font-size: 12pt;">AI with autonomous vehicles</span></li><li><span style="font-size: 12pt;">Smart charging process and infrastructure</span></li><li><span style="font-size: 12pt;">EV is getting into more than the personal mobility aspect</span></li></ul><p style="text-align: justify;">&nbsp;</p><p style="text-align: justify;">&nbsp;</p><p style="text-align: justify;">&nbsp;</p><p style="text-align: justify;">&nbsp;</p><p style="text-align: justify;">&nbsp;</p>