India Electric Vehicle Powertrain Market has valued US$ XX Bn and expected to reach US$ XX Bn in 2026, at CAGR of 26% during forecast period.
Strict regulations on emission and fuel efficiency, government schemes towards implementation of electric vehicles coupled with the need for pollution free environment are few of the factors contributing to the growth of electric vehicle powertrain systems market in India. The growth of the electric vehicle market is also critical for energy transition in the country, reducing the belief on oil imports and rising demand for renewable power. Additionally, technology improvement, cost reduction and local manufacturing of lithium-ion batteries are expected to catalyse the growth of the Electric Vehicle market in India.
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