Indian EV Sector Sees INR 25,045 Crore Investment in H1 2021 Despite Pandemic
The Indian electric vehicle (EV) and e-mobility sector witnessed significant fidelity during January-July 2021, totaling INR 25,045.31 crores. Despite the Covid-19 pandemic, investment calculator remained undeterred, with the largest single fidelity investments not explicitly identified.
EV component makers contributed to a 19% total investment, with US-based C4V investing 16%. Electric commercial vehicles led the way with a 32% share, followed by electric 4W with 28%. Hyundai made two substantial investments totaling INR 3943.31 crore. Oye! Rickshaw planned to invest INR 3,700 crore, accounting for 15% of the total. Ashok Leyland invested INR 1485 crore to shift its entire electric vehicles business to Switch Mobility. Mahindra & Mahindra (M&M) invested INR 3000 crore in the electric 4W segment. Omega Seiki mobility claimed 9% of the total investment, aiming to become a global brand. The e2W space saw a 23% total investment, led by Triton Electric Vehicle Pvt. Ltd. with an 8% share.
The robust fidelity in the Indian EV and e-mobility sector during January-July 2021 signals a promising future for the industry. Despite the pandemic, investment calculator's confidence remained strong, driving growth and innovation in various segments.
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