1.1.3 A Study on Replacement Rate of Internal Combustion Technology Vehicles (ICT) by Electric Vehicles (EVs)in India

Irfan Ahmed Qureshi,
Professor, Dept. of Management Science MIT Chh. Sambhajinagar, MH, India

Barik Bhagabat,
MGM’s Institute Management Studies & Research, MGM University Chh. Sambhajinagar, Maharastra, India

Meer Mazhar Ali
Dept. of Management Science MIT Chh. Sambhajinagar, Maharastra, India

DOI: CJBES/Vol.1.1/June_2024

Abstract

The research paper explores the slow transition of India’s automotive market from Internal Combustion Technology (ICT) vehicles to Electric Vehicles (EVs), with a replacement rate of just 5%, far below the global average. Key factors such as inadequate infrastructure, government policies, and customer perception are identified as barriers. The study suggests marketing EV technology through a Private-Public partnership. By combining government support with private sector expertise, large-scale awareness campaigns can be launched to highlight long-term cost savings, environmental benefits, and infrastructure development, helping accelerate EV adoption across India.

Published
2024-06-25