The Future of Electric Cars: Transforming the Automotive Industry

The Future of Electric Cars cannot be said for sure, though it is changing the automotive industry there are some reservations about its impact on the environment.

The Future of Electric Cars is Huge and Provides a Unique Investment Opportunity

As the world is becoming aware of the dangers of fossil fuels, people have started shifting to things that do not require fossil fuels. This has helped in the growth of electric cars that now present a great alternative to petrol and diesel cars. 

So, what is the future of electric cars?

From leading companies to the government, the world has massively increased its EV production. As governments are also offering subsidies to industries to make more electric cars and offer them to buyers at cheaper rates, the numbers have seen an upward growth.

Read more:- Top 10 Cars in The World

Electric cars require less maintenance, are more eco-friendly, and are cheaper than normal cars. These few reasons have started making electric cars a key in the future of the automotive industry. 

India and The EV Industry 

The Indian Government has also been pushing to make more electronic vehicles. Through its  ‘Make in India’ initiative, it wants to achieve 100% local production of EVs. The  Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India (FAME India) and PLI schemes are also providing a boost to the EV industry in the country. 

Leading brands such as Tata Motors, Mahindra, Ola Electric, Ather Energy, TVS, Mahindra and more have joined the bandwagon and have now started exploring and entering the EV market. 

From electric cars to buses to scooters, the EV industry also provides a unique investment opportunity. The shares of companies in the EV business have seen a gradual growth in the past few years and this is expected to continue in the future. 

Are electric cars the future?

Some do not believe in the potential of electric cars and feel that it is more harmful to the environment than we know. 

Read more:- Top 10 Fastest Bikes in the World 

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Harshita Bajaj

Harshita has a background in Psychology and Criminology and is currently pursuing her PhD in Criminology. She can be found reading crime thrillers (or any other book for that matter) or binge-watching shows on Netflix when she is not in hibernation.
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