Business Today

The EV Opportunit­y


THE RAPID SURGE in the sales of electric vehicles (EVs) has opened up a `3-lakh crore business opportunit­y for manufactur­ers and supplement­ing sectors. A report by CRISIL says EVs offer a potential revenue of `1.5 lakh crore across vehicle segments for manufactur­ers alone till 2026. For lenders, it is a `90,000-crore vehicle finance opportunit­y, with shared mobility and insurance accounting for the balance. Hemal Thakkar, Director, CRISIL Ltd, says improving cost parity and the government’s thrust may take EV penetratio­n to 15 per cent in twowheeler­s, 25-30 per cent in three-wheelers, and 5 per cent each in cars and buses by fiscal 2026.

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