new delhi shared electric and connected mobility will take a decade to 15 years to become popular in india in the meantime india has to enhance its manufacturing expertise to global size and scale develop electric vehicle ev componentry and enhance its renewable energy capability ev exports will cut oil import dependence of the country said amitabh kant ceo niti aayog at the 57th siam annual convention while speaking on the theme building the nation responsibly at present auto component exports contribute 25 percent of annual production the 234 million auto industry in 2015 is pegged to reach volumes of 663 million in 2026 and on a optimistic scenario be in the range of 758 million in size that will put a pressure on infrastructure at present while india has 20 cars per thousand people in usa the ratio is 800 per thousand people and in china 85 cars per thousand this will give a huge opportunity for growth of electric cars that will grow from 104 percent in 2026 to 533 percent of the total cars sold in the country growing at a cagr of 9 percent evs sale is pegged at 14 million in 2030 and 3081 million in 2040 said kant siam has to be ready for this growth as already battery prices have fallen by 4050 percent also read we are crystal clear about implementation of electric vehicles nitin gadkari prices will drop further with scale up in technology and increase in volumes from 273kwatt per hour to 73kwatt per hour in 2030 when there will be a huge shift from ic engines to lithium ion batteries pointing out the challenges kant said siam must come up with a policy for the industry on evs so that the evs service not only the domestic market but penetrate the global markets in addition alternate fuels like hydrogen fuel cells should be leveraged in the longterm to boost clean mobility etauto published on sep 7 2017 at 0354 pm ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etauto app get realtime updates save your favourite articles scan to download app siam electric vehicles ev auto industry cagr homenewsindustryshared electric and connected vehicles in 1015 years in india