LONDON, October 4, 2017 /PRNewswire/ --
Social pressure has resulted in the realisation that improving quality of life is critical for individuals and quality of life is now driving political decision making. Facilitated by advancing technology and the rising affordability of green technologies, we are seeing structural changes to both electricity generation and transport solutions based on new green policies that sit front and centre in discussions across the world at levels from international to city mayoral. Ownership of electric vehicles is no longer a specialist pastime, it is becoming an urban middle-class aspiration.
In particular, in India the automotive industry seems to be at an inflexion point. The Government of India has designated electric vehicles as its sole choice for mobility in 2030. This paper analyses the implications for the commodity markets involved in delivering this goal.
The Indian automobile industry has grown tremendously
0.9 million (mn) cars were manufactured in India in 2000, of which one-third were exported. Car production grew at a cumulative annual growth rate (CAGR) of 11% in the period 2000-2010, to 2.6 mn. However, demand growth was much faster, at a CAGR of 13% in the same period, with exports also growing at a CAGR of 4.3%.
Read the full story: http://bit.ly/New-energy-vehicles-in-india
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