The electric vehicle (EV) sector presents a significant investment opportunity, exceeding USD 200 billion by 2030. This growth is propelled by strategies such as boosting indigenous production, integrating the value chain, and developing solutions to enhance vehicle safety, reliability, and cost-effectiveness, all of which facilitate widespread EV adoption.
India, as demonstrated in the recent G20 declaration, is firmly committed to pursuing sustainable development and low carbon emissions while fostering inclusive growth. This commitment has driven substantial growth in the EV and alternative fuel technology markets, fueling significant deal activity in the automotive industry.
As the Indian automotive industry continues its path to sustained recovery coupled with gradual resurgence of global macroeconomic environment, we maintain an optimistic growth outlook, particularly for the upcoming festive season.
This publication covers the performance of the automotive sector in Q3.