According to the Global Electric Mobility Readiness Index (GEMRIX 2022), Norway has become the world leader in the adoption of electric vehicles (EVs). GEMRIX, from management consulting firm Arthur D. Little, focuses on four major metrics to gauge the trend in EV adoption: markets, customers, infrastructure and governments. GEMRIX has been calculated for 15 countries with India ranked 11th in terms of market readiness for EV adoption.

The index is designed to compare market conditions for electric vehicles and internal combustion engine (ICE) vehicles. An electric vehicle readiness score of 100 means that in a given country it is just as advantageous to buy and use an electric vehicle as an internal combustion engine vehicle. The overall use of electric vehicles (EVs) has increased over the past two years across the world, according to the GEMRIX 2022 report.

“Norway has a global benchmark score of 115, which clearly indicates that electric vehicles are becoming the popular choice for mobility among the citizens of this country. This is followed by three other distinct groups of countries including ambitious followers China (score 83), Germany (76), the UK (74) and Singapore (74), which all possess the prerequisites for vehicle mobility electric vehicles and where electric vehicles are on the verge of becoming mainstream,” the report states. He added that beginners like India, which has a score of 31, face major cost and infrastructure challenges.

“In studying global electric vehicle markets, we have found that market readiness and adoption of electric vehicles is driven by different factors in different regions. In some markets, environmental friendliness is key, while in others it’s the cost of the electric vehicle. Many countries, especially those in our Starter group, including India, focus primarily on cost,” said Barnik Chitran Maitra, Managing Partner and CEO, India and South Asia, Arthur D. Little.

The report says that in India, with 40 different vehicle types on offer, customers enjoy a good variety. However, this mainly concerns two- and three-wheeled vehicles, while passenger cars in India do not yet account for a significant share of the electric vehicle market. China, on the other hand, offers more than 100 different models, about half of which are passenger cars.

“In Starter countries, competition has increased dramatically, driving down prices and improving quality. Sales of electric two- and three-wheelers increased by 132% and 102%, respectively, in fiscal 2022, reaching full-scale production, driving down sales prices. Combined with the recent increase in oil prices, the total cost of running electric two- and three-wheelers is much lower than other vehicles,” the report said.

“Electric vehicles are here to stay. However, despite the mature globalization of the automotive industry, markets and their requirements differ significantly across the world. These differences must be recognized to successfully implement a “one-in-one” disruption. century” such as the change from fossil fuel to electric power – from molecules to electrons. At the same time, effective government policies in response to climate change and air pollution must aim to promote the adoption EVs at a faster pace,” Andreas Schlosser Partner, Global Head of Automotive, Germany, says Arthur D. Little.