- Okinawa, Ratan Tata-backed Tork Motors, Revolt Intellicorp, ION Energy and Tiger Global-backed Ather Energy are some of the startups that are part of the Indian EV startup ecosystem.
- The country is forecasted to become the fourth-largest EV market over the next 20 years.
- Union minister Nitin Gadkari reaffirmed India's potential to become a major manufacturing hub for electric vehicles in the next five years.
The Indian electric vehicles market has seen many startups coming into the space. With the country forecasted to become the fourth-largest EV market over the next 20 years, startups are taking on the opportunity.
Earlier this week, Union road transport & highways minister Nitin Gadkari reaffirmed India’s potential to become a major manufacturing hub for electric vehicles in the next five years. He said the world is no more interested in doing business with China, which is a very good opportunity for the Indian industry to pick up the shift in business.
The increased interest in India’s EV market was also evident at the AutoShow 2020, where leading car makers showcased their latest electric vehicles.
Here are some of the startups that are leading the way for the Indian EV startup ecosystem.