EV-ready India Part 1: value chain analysis of state EV policies

India has the potential to become one of the largest electric vehicles (EVs) markets in the world, with the government pushing for the segment in order to curb pollution and reduce reliance on import-dependent fossil fuel, a report said. However, the uptake of EVs has been slow due to the high upfront and lifecycle costs costs, but long-term investment in research and development (R&D) will create sustained growth, according to the report by the World Economic Forum and Ola Mobility Institute.