Himanshu Patni

  Key Highlights of the Report : Ø   In South Africa, the government has set a target of having 60% of all new cars sold in the country be electric by 2030. Ø   Japan increased its EV subsidy scheme to JPY 70 billion (USD 530 million) – doubling support for BEV purchases up to JPY 850 000 (USD 6,500) and JPY 550 000 (USD 4,200) for PHEV. Ø   In 2022, 25% of electric car purchases in India were by fleet operators, such as for taxis. In early 2023, Tata secured a large order from Uber for 25,000 electric cars. Ø   The Indian government has launched several schemes and programs such as the FAME India Scheme, PLI Scheme, Battery Swapping Policy, and other policies, to subsidize the adoption of EVs. This has led to an increase in demand for EV batteries in India. Ø   In China, the government has set a goal for new energy vehicles to account for 20% of all new car sales by 2025. Ø The electric vehicle wiring harness market has been experiencing significant gro...