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Study warns India's auto firms face risks as EV adoption rises, despite market growth challenges.
A recent study by Imperial College Business School warns that India's auto firms face financial risks as electric vehicle (EV) adoption rises, potentially reaching 25% of vehicle sales.
The Indian EV market is projected to grow from $2.3 billion in 2024 to $164 billion by 2033, driven by eco-friendly preferences, battery advancements, and government support.
However, Deloitte reports that over one-third of Indian consumers cite high EV costs and inadequate charging infrastructure as major barriers.
Additionally, brand loyalty is declining, with 72% of buyers willing to switch to brands offering modern features and quality.
El estudio advierte que las firmas automotrices de la India enfrentan riesgos a medida que aumenta la adopción de vehículos eléctricos, a pesar de los desafíos de crecimiento del mercado.