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ETAuto Exclusive: Indian EV industry records INR 25,045 crore investments in last seven months – ETAuto

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Collective investment done by e2W, e4W, EV component makers, electric commercial vehicles, and last-mile delivery companies was recorded at INR 25,045.31 crores during January-July 2021. Meanwhile an independent study conducted by the CEEW Centre for Energy Finance (CEEW-CEF), says the EV market in India will be worth USD 206 billion by 2030 if India maintains steady progress to its 2030 target. This would necessarily entail an investment of over USD 180 billion in vehicle manufacturing and charging infrastructure.
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Car production is expected to be affected for the rest of 2022 because of the semiconductor supply crunch. For the two-wheeler segment, the rural recovery is still remote and the market for commuter motorcycles is yet to recover from the second COVID wave. Meanwhile, the commercial vehicle and the tractor segments are showing some signs of recovery.
The company launched its maiden scooter Simple One back in August 2021 and will begin deliveries only by June but is prepared for 1 lakh bookings by then to be serviced by the end of 2022. Given Bhavish Aggarwal’s struggles at Ola Electric with ramp up and deliveries to customers, Simple’s Suhas Rajkumar is going slow and steady opting for caution knowing that for a three year old startup, he cannot afford to have his scooters stutter on the roads.
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