EV sector can see a lot of growth.

 In the coming times, this EV sector can see a lot of growth. In such a situation, if you are planning to invest in the stock market, then this sector can be an ideal option for you

Business Desk. The demand for EV i.e. Electric Vehicles is increasing day by day, earlier some selected manufacturers launched their EVs, while now all the major auto manufacturers around the world have launched their electric vehicles in the market.

The demand for EV is also increasing rapidly in India. The EV market has also gained momentum due to various subsidies from the government. But even now India is lagging far behind other Asian countries

In fact, a research conducted by S&P Global Ratings found that the EV penetration rate in India i.e. the presence of electric vehicles in the Indian market was only 1.1% while the average of other Asian countries was 17%. Let us tell you, passenger vehicles and light commercial vehicles were included in this research, while this research was done keeping in mind many other Asian countries including China, Japan, South Korea, India, Indonesia.

The Indian government has set a target of 30% EV Penetration by 2030, although at present 90% of EVs are either 2 wheelers or 3 wheelers, while if the E-rickshaws present in the country are also included in this, which do not use Lithium Ion Batteries, then also the EV Penetration in the country can be 4.5%. It is clear from this that in the coming time, this sector can see a lot of boom. In such a situation, if you are planning to invest in the stock market, then this sector can be an ideal option for you.