| | June 20218How do you see the current market of the automotive industry? What are the major factors driving its growth? The demand has shot up unexpectedly due to the changes we have seen as a result of the global pandemic, personal mobility and health now play a more important role, the result is skyrocketing sales of electric bicycles over the last year and the forecast for the coming year is also the same. Consumers are demanding their own personal vehicles and are not ready to use public transport in the near future, this is the main reason behind the recent spike in demand of the electric bicycle, there is also a large section of society that consider electric bicycles for fitness. The environmental consciousness of the customers is also increasing and thus the higher uptake of electric vehicles in general.What are the major challenges and opportunities faced in the automotive industry?The electric revolution has been looming on the horizon for quite sometime now, but it seems that the tipping point is arriving soon. The pandemic has accelerated the transition towards an electric future where the gas guzzler will be replaced as an environmentally friendly vehicle. The challenges brought for this change and slowing becoming new opportunities for the industries at large. The ancillary industry which is very nascent at present seems to be picking up, a lot of new vendors are coming up exclusively catering to the electric vehicles that are coming up all around the country.The opportunity to introduce more electric vehicles in the market is very rewarding at present as the demand seems to be increasing regularly. This makes it a good time to introduce various products in the market. Though the offering might be fragmented at present by slowly and steadily the various different offering will cover all consumer requirements at the earliest.THE FUTURE OF ELECTRIC MOBILITYBy Rahil Rupawala, Founder & Director, LightspeedVANTAGE POINTRahil Rupawala
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