Besides the end-users or customers, three key stakeholders could play an integral role in India’s transition towards EVs.
• The government: By defining the regulations on emissions and fuel efficiency, clarifying aspirations, strategic intent
direction, exploring incentives and subsidies, it can support EV adoption and focus on developing a supportive ecosystem.
• The power, fuel, and charging infrastructure companies: By laying down a foundation of support, innovating on business models (eg, leasing of batteries, swapping infrastructure, deploying fast chargers), making the economics of (fast) charging infrastructure work, providing stable power supply and grid stability, they can enable easy and rapid charging and drive EV adoption.
• The automotive industry: By changing the product and component mix bringing EV components and vehicles to life, building
the right talent pool and skill set, improving the performance of batteries and electric vehicles and building scale, the industry can drive the
Source: "The future of mobility in India: Challenges & opportunities for the auto component industry" by McKinsey & Company