Proceedings of the 5th International Conference on the Role of Innovation, Entrepreneurship and Management for Sustainable Development (ICRIEMSD-2024)

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Innovating for a Sustainable Future: Exploring Business Opportunities in India’s Electric Vehicle Sector

Authors
Neha Pathak1, *, Abhishek Awasthi2, Arun Kumar2
1Department of Commerce, Guru Ghasidas Vishwavidyalay, Koni, Bilaspur, Chhattisgarh, India
2Department of Commerce, University of Lucknow, Lucknow, India
*Corresponding author. Email: nehapathak1990@gmail.com
Corresponding Author
Neha Pathak
Available Online 31 December 2024.
DOI
10.2991/978-94-6463-612-3_18How to use a DOI?
Keywords
Electric vehicles; Sustainable vehicle ecosystem; Entrepreneurship; Government policies and incentives
Abstract

This study assesses the current state of the sustainable vehicle market in India, focusing on key opportunities and challenges for entrepreneurs. India’s electric vehicle (EV) market is growing rapidly due to government incentives and increasing consumer awareness. However, there are significant challenges such as limited charging infrastructure, high battery costs, range anxiety, CO2 emissions from EV and battery production, and rising electricity demand. The research identifies business opportunities in EV production, battery technology, charging infrastructure, battery swapping services, electric mobility, retrofitting services, and software development. Government regulations have played a key role in promoting EV adoption, but more efforts are needed to overcome infrastructure barriers, increase consumer interest, and reduce costs. This study is based on secondary data and a literature review. The research provides insights for entrepreneurs, policymakers, investors, and consumers interested in understanding India’s sustainable vehicle landscape. The recommendations include continued government support, battery technology advancement, alternative energy solution exploration, and greater customer adoption of sustainable vehicles to foster a thriving EV ecosystem.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 5th International Conference on the Role of Innovation, Entrepreneurship and Management for Sustainable Development (ICRIEMSD-2024)
Series
Advances in Economics, Business and Management Research
Publication Date
31 December 2024
ISBN
978-94-6463-612-3
ISSN
2352-5428
DOI
10.2991/978-94-6463-612-3_18How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Neha Pathak
AU  - Abhishek Awasthi
AU  - Arun Kumar
PY  - 2024
DA  - 2024/12/31
TI  - Innovating for a Sustainable Future: Exploring Business Opportunities in India’s Electric Vehicle Sector
BT  - Proceedings of the 5th International Conference on the Role of Innovation, Entrepreneurship and Management for Sustainable Development (ICRIEMSD-2024)
PB  - Atlantis Press
SP  - 268
EP  - 293
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-612-3_18
DO  - 10.2991/978-94-6463-612-3_18
ID  - Pathak2024
ER  -