ANALYZING CURRENT TRENDS IN ELECTRICAL VEHICLE (EV)

Abstract

The *"Analysing Current Trends in Electric Vehicles (EVs)"* study examines how electric mobility is revolutionizing India, with a particular emphasis on consumer perceptions, technological developments, market dynamics, and policy consequences. EVs have become a vital way to cut down on greenhouse gas emissions, reliance on fossil fuels, and urban pollution as climate change and environmental sustainability become major global concerns. The study offers a thorough examination of the present situation and prospects of the Indian EV market. According to the study, the market is anticipated to increase from USD 1.45 billion in 2023 to USD 18 billion by 2030, with electric two- wheelers playing a dominating role and three- and four-wheelers' growing market share. Leading companies like Hero Electric, Ola Electric, Ather Energy, and Tata Motors are driving this expansion with the help of sizeable government subsidies provided by programs like FAME I and II. Structured consumer surveys were used to gather the data, and statistical procedures including multiple linear regression and factor analysis were used for analysis. The main conclusions show that although environmental concerns have a minor impact, government incentives, vehicle performance, range, and charging infrastructure have a greater influence on purchasing decisions. Economic pragmatism continues to be a more powerful motivation than ecological [Type here] 5 consciousness, nevertheless, as evidenced by the poor relationships found between environmental awareness and purchase intent. Additionally, the research looks into technology trends like developments in lithium-ion batteries, the rise of battery swapping, and smart grid integration. Issues include a lack of charging infrastructure, expensive cars, and a small selection of models still prevent widespread adoption. To speed up EV adoption, the study concludes by highlighting the necessity of infrastructural investment, public awareness campaigns, policy consistency, and technological uniformity. For stakeholders, manufacturers, and politicians looking to propel India's sustainable transportation future, the findings provide a strategic roadmap.