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India s electric vehicle (EV) financing industry is projected to be worth Rs 3.7 lakh crore in 2030, about 80 per cent of the current retail vehicle finance industry, according to a new report.
The report titled Mobilising Electric Vehicle Financing in India , prepared by Niti Aayog and Rocky Mountain Institute (RMI) India pointed out end-users currently face several challenges, such as high interest rates, high insurance rates, and low loan-to-value ratios.
It said India s transition to electric vehicles (EVs) will require a cumulative capital investment of USD 266 billion (Rs 19.7 lakh crore) in EVs, charging infrastructure, and batteries over the next decade.
Electric vehicle financing industry to be worth Rs 3 7 lakh Cr by 2030: Report yourstory.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yourstory.com Daily Mail and Mail on Sunday newspapers.
Indiaâs Transition To EVs Require Rs 19.7 Lakh Crore, EV Finance Industry To Grow To Rs 3.7 Lakh Crore By 2030: Report
by Swarajya Staff - Mar 10, 2021 07:43 AM
Electric Vehicle Charging Station by TATA Power in Delhi (Pradeep Gaur/Mint via GettyImages)
NITI Aayog and Rocky Mountain Institute (RMI) India released a new report âMobilising Electric Vehicle Financing in Indiaâ, which highlights the role of finance in the Indiaâs transition to electric vehicles (EVs).
It analyses that the transition will require a cumulative capital investment of USD 266 billion (Rs 19.7 lakh crore) in EVs, charging infrastructure, and batteries over the next decade.