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15 Times Increase In EV’s Specifically For Commercial Use Expected In The Next 6 Months

TNI || New Delhi || 27th Sep 2021

As per a financier, there is going to be a stupendous increase of 15 times in the demand for electric vehicles, which will be put to commercial use in the next six months.

This is due to the rise in fuel prices, rolled out incentives by central and state governments, as well as the focus of e-commerce companies to electrify their last-mile fleets.

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Founder of RevFin, Sameer Aggarwal, says that the market has recognized to move towards adopting EV’s, more so in the last 6-9 months.

As per Aggarwal, there has been a three times increase in the demand for EV’s in July and August alone, as compared to the pre-pandemic years.

They too are expecting 15 times increase in the demand in the next six months. Amitabh Kant, who is the Niti Aayog CEO, has estimated that in the next couple of years, all the urban delivery vehicles will be going completely green.

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The government has already launched the Shoonya initiative, which has onboard around 30 companies like Tata Motors, Mahindra Electric, Sun Mobility, Hero Electric, Blue Dart, Zomato, and many more.

The idea of this initiative is to go ahead with a faster transition to green technologies when it comes to urban vehicles and also enable the establishment of charging infrastructure for EV’s.

Due to the rapid growth in e-commerce which has accelerated more due to the pandemic, around 8 million EVs are expected to be on the road by 2030 in the urban delivery segment.