India’s EV revolution is on the fast track! ⚡
The country’s electric vehicle (EV) adoption surged consistently from 2021, continuing its upward trajectory into 2023. With electric two-wheelers spearheading this growth, 𝗼𝘃𝗲𝗿 𝟭 𝗹𝗮𝗸𝗵 𝗘𝗩𝘀 𝘄𝗲𝗿𝗲 𝘀𝗼𝗹𝗱 monthly in H2 FY 2023. (Source: Times of India)
Gain quick insights into the growing realm of Electrical and Bio Fuel Vehicle companies through our Industry Insights series.
Key Highlights:
🔹𝗦𝗶𝗴𝗻𝗶𝗳𝗶𝗰𝗮𝗻𝘁 𝘀𝘂𝗿𝗴𝗲 in new electrical and bio fuel vehicle company incorporations over the 𝗽𝗮𝘀𝘁 𝗱𝗲𝗰𝗮𝗱𝗲.
🔸Leading states for these companies: 𝗗𝗲𝗹𝗵𝗶, 𝗠𝗮𝗵𝗮𝗿𝗮𝘀𝗵𝘁𝗿𝗮, and 𝗞𝗮𝗿𝗻𝗮𝘁𝗮𝗸𝗮.
🔹𝗕𝗲𝗻𝗴𝗮𝗹𝘂𝗿𝘂 district houses 𝟭𝟬.𝟮𝟰% of India’s total electric and biofuel vehicle companies.
🔸𝟯𝟭.𝟯𝟭% of these companies report no revenue.
🔹𝟲𝟲.𝟯𝟱% have no secured borrowings, with 𝟭𝟬.𝟱𝟰% displaying secured borrowing between 𝟭𝗖𝗿-𝟱𝗖𝗿.
🔸Majority of secured borrowings within ranges of 𝟭𝗖𝗿 to 𝟭𝟬𝟬𝗖𝗿 and >𝟭𝟬𝟬𝗖𝗿 were recorded in 𝟮𝟬𝟮𝟯.
🔹𝟭𝟲.𝟵𝟮% of the companies report income or expenses in foreign currency.
Access 𝗰𝗼𝗺𝗽𝗿𝗲𝗵𝗲𝗻𝘀𝗶𝘃𝗲 𝗱𝗮𝘁𝗮 𝗼𝗻 𝟭𝟬𝟬𝟬+ electrical and bio fuel vehicle companies across India, on Probe42. Begin your exploration by navigating to Search by Industry – Automotive > Segment – Electrical and bio fuel vehicles.
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