BUILDING AN EFFICIENT EV INFRASTRUCTURE AND ITS INTEGRATION WITH RENEWABLE ENERGY SOURCES

Abstract

This paper basically talks about the steps that Indian auto industries are taking to completely revolutionize the Indian automotive industry. The special focus on the Indian market is because of the fact that India being one of the largest markets of motor vehicles. The company which will cater to the needs of such a big population will get humongous lead in this new Technology market. This paper talks about the current scenario, the opportunities and the challenges which the companies will face while trying their hands in this market. Few years ago, a mobile device manufacturer known as Micromax said ―We will bring a complete disruption in India’s 21 million two wheeler market‖. Sometime back Micromax was one of the leading sellers in the mobile market. They made use of cheap manufacturing process and various efficient techniques to produce the electric vehicles at a cost efficient rate. It did not went as expected and the coming of Chinese brands like Xiaomi, Micromax’s market share went down to 2%. The companies are now betting on electric vehicles (via. Economic times). Over the recent years, seeing that the EVs’ sale has picking up the pace, the companies are molding themselves by learning, through the experiences, to achieve the perfection. Therefore, their dynamic performances, the range, the recharge autonomy, and passive safety have recently reached the performance of traditional vehicles, powered by Internal Combustion Engines (ICE). In parallel to the use of various environment friendly techniques, astonishing growth has been seen in the recharging methods of these vehicles and their commercialization. Unfortunately, following the academic literature pertaining to the present research, but also the reality reflected by the public opinion there are traditional purchasing barriers for electric vehicles (He, et al, 2019, O Neil et al, 2019). The cost of investment is very high, in addition to the cost, there are various other factors like the less effective quality of performance, the range anxiety of the customers, non-availability of proper recharging infrastructure, these factors are still in their initial phase and these factors determine the buying behavior of the customers.