Assocham

Electric Vehicles Market to Experience Double Digit Growth YoY Till 2020: ASSOCHAM-EY Study

EV adoption will be highly dependent on the pace of fall in battery costs as EVs are significantly more expensive than traditionally propelled vehicles due to the high cost of Li-ion batteries. “With the improvement in technology and manufacturing efficiency, the cost is expected to decline to US$100/kWh by 2023.” The Assocham-EY report said.