Country’s EV market will be more than 1 crore units by 2030, 5 crore jobs will be generated

Electric Vehicles (EV) sales have grown rapidly in the country in the last few years. This market can increase to one crore units annually by 2030. There is a possibility of getting about five crore direct and indirect jobs from this. According to the Economic Survey, in December, India became the third largest automobile market in the world in terms of sales, leaving behind Japan and Germany.

According to the Economic Survey, “The automotive industry can play an important role in moving towards green energy. The country’s EV market is expected to grow at a compound annual growth rate (CAGR) of about 49 percent between 2022 and 2030. May reach one crore units. Last year it was around one million units.” About five crore direct and indirect jobs can be created by this industry by 2030. EV The Central Government has taken several measures to help the industry related to In 2021, India was the largest two-wheeler and three-wheeler manufacturer and the fourth largest manufacturer of passenger cars in the world.

The automobile sector accounts for 7.1 percent of the country’s total GDP and about 49 percent of the manufacturing GDP. By the end of 2021, about 3.7 crore people had got direct and indirect employment in this sector. in the EV segment Tata Motors Largest company. At the end of last year, Tata Motors had achieved the milestone of delivering 50,000 electric cars. EV sales are increasing rapidly in the country. To reduce carbon emissions and reduce fuel imports, the central government has taken measures to promote EVs. Many state governments are also giving subsidies to people on the purchase of electric vehicles. Tata Motors sells three electric cars, the Tiago EV, the Tigor EV and the Nexon EV.

Tata Group plans to set up battery cell plants for Electric Vehicles (EV) in India and Europe. Tata Motors, the automobile company of Tata Group, has sold more than 50,000 electric cars in the country. It plans to launch 10 EVs by March 2026. Tata Motors expects EVs to account for around 25 per cent of its total sales by 2025. This figure is now about eight percent.