While the electric car industry expected the budget to be as revolutionary as it promised, it didn't pan out on all fronts. This caused mixed feelings in the industry. The government has announced an increase in tariffs on certain auto parts that could hurt the electric mobility segment.
On the other hand, with the hope that people will buy vehicles that are more environmentally friendly, this year the government proposes to start a voluntary elimination of vehicles. But not everything is bleak and doomed to failure for electric cars. The industry is still in a big upward trend for low speed electrical transportation.
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Consumer demand has prevailed over the long term and this can be seen in recent developments in the industry. For example, Tesla, the maker of the world's most valuable electric vehicles, is now ready to launch its cars in India this year.
The launch of the tech giant is set to drive the introduction of electric cars in the country. This introduction is also proof that much can be gained from the widespread use of electric vehicles. Some reports suggest that this could increase the country's GDP by 25% in the coming years.
The fact remains that the core of e-mobility is the electric vehicle itself. There are reportedly more than a million e-rickshaws on the streets. This development is also driving the sale of electric cars for personal use.