According to market research by Custom Market Insights, the worldwide Electric Vehicle market size was valued at approximately $205.4 billion in 2022 and is expected to reach around $1105 Billion by 2030, growing at an exorbitant CAGR of 23 percent between 2022 and 2030. With climate change catastrophes looming around, the world has finally started taking e-Mobility as a serious alternative to ICE vehicles. In India as well, wherein ICE vehicles contribute an estimated 123 Million Tonnes of CO2 emissions annually, the novel electric vehicle revolution is a need of the hour and is already at the gates.

The largest stumbling blocks in front of the EV industry have always been the need for charging infrastructure in our country, longer time taken for charging, and high heat dissipation, not to mention the lack of attractive designs. But the industry has responded well to the initial setback, as EVs today have come back strongly with solutions to all these issues. Assisted by the union government's strong e-Mobility vision, the industry is working like an oiled engine to build a robust charging infrastructure PAN India. At the same time, it has also quite appreciably found fastcharging solutions and solved heat dissipation challenges. As a catalyst to this revolution, the Union Cabinet chaired by Prime Minister Narendra Modi has announced an Rs.18,100 crore ($2.44 billion) National Program on Advance Chemistry Cells Production Linked Incentive Scheme. It was suggested by DHI last year for battery manufacturing and storage in India. While we look ahead to the interesting EV future of the automotive industry, we have managed to curate some of the stories from the industry.