The Electric Vehicle Market is set to see a lot of activity. Several foreign companies and homegrown startups have decided to enter this space. The government’s ambitious envisages achieving 6-7 million sales of hybrid and by 2020. A series of flip-flop on policies and a non-existent charging infrastructure is the biggest challenge in achieving the target. But is not deterring the newer entrants.

Japan’s Terra Motors, which has been selling since 2014 is now planning to launch electric auto-rickshaws that will target the 500,000 per annum three-wheeler market by January next year. Quite a few other South East Asian Companies are looking to enter the electric vehicle market.

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The growth of the electric vehicle market in India will provide opportunities to a lot of MSME’s that work in ancillary industries.

Source: Business Standard

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