- Financial Express
EV fear: Are days numbered for MSMEs making parts of internal combustion engine?
Ease of Doing Business for MSMEs: The government had last month also approved the PLI scheme for auto and auto components businesses focusing on electric and hydrogen fuel cell vehicles. Over 5 lakh EVs have been registered in India since 2018.
The EV market in India was worth $5 billion in 2020 and is likely to reach $47 billion by 2026, registering a CAGR of over 44 percent. (Representative image)
Ease of Doing Business for MSMEs: Automakers worldwide have gradually been gearing up for switching to electric vehicles (EVs) from convention automobiles that have been powered by internal combustion engines (ICEs) for more than a century.