Evolutionary Progress of the Electric Car Market with Future Directions

Abstract

Presently, the gas emission from metropolitan transportation is a serious issue for climate change. Therefore, in the present scenario, electric vehicles are an important solution to diminish air pollution in the urban areas and a rational choice to give to energy diversification in order to decrease greenhouse gas releases. As per today’s scenario, the demand for electric vehicles is inescapable around the world and India alike. Nowadays many middle-class families dream to own a four-wheeler, But they refused to buy this because of the high prices of petrol and diesel. So the electric vehicles are a good option for those because in electric vehicles there is only a one-time investment and their maintenance is very low. Hence, many companies are now focused on budget electric vehicles in the Indian market and all over the world. But they are facing a lot of issues that should be addressed. The major issues in the compliance of EV are not enough charging stations, time-consuming charging time and expensive starting cost with range limitation. But currently, the making India project is very helpful for the development of EV market growth. India has large strategies for the growth in the electric vehicle market and its expertise in the country for the next decade. These all concerns related to electric vehicles are discussed in this paper.