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India could be one of the largest EV markets: Report

The findings of a report by the World Economic Forum and Ola Mobility Institute suggest that India has the potential to become one of the largest electric vehicles (EVs) markets in the world. This statement comes in light of the government pushing for the segment in order to curb pollution and reduce reliance on import-dependent fossil fuel. The report also noted that the uptake of EVs has been slow due to the high upfront and lifecycle costs, but long-term investment in research and development (R&D) will create sustained growth. It also said that Andhra Pradesh, Bihar, Delhi, Karnataka, Kerala, Maharashtra, Tamil Nadu, Telangana, Uttarakhand and Uttar Pradesh are leading the way in building production, infrastructure and services to increase the momentum of EV usage in India.