The government plans to achieve the sale of 60-70 lakh hybrid and electric vehicles every year from 2020 onwards.

In January 2013, the National Electric Mobility Mission Plan (NEMMP 2020) was announced to incentivise the use and production of electric vehicles

• Government also adopted the FAME India scheme to support the market development and manufacturing of electric vehicles
• Budget 2022-23 allocation towards FAME has been increased to ₹2908 crores from ₹757 crores
• This scheme will focus on technology development, pilot projects, demand creation and charging infrastructure
• Central Government is also expected to roll out a national policy for electric vehicles to lay down standards for production and incentives for usage as well as set up plans to incentivise the use of electric vehicles
• A battery swapping policy will be brought out and interoperability standards will be formulated. The private sector will be encouraged to develop sustainable and innovative business models for ‘Battery or Energy as a Service’
• Push for electric mobility will involve companies from diverse segments like 2- and 4-wheeler manufacturers, oil and gas refining companies, chemical manufacturers, etc

This smallcase comprises companies that are investing in the electric vehicle ecosystem and are expected to grow with growth in electric mobility