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Electric vehicles are getting prominence in policymaking worldwide. And they’re rightfully securing a central role in how governments plan to make transportation more sustainable. The Government of India, for instance, made EVs a crucial part of its transportation policy in the Union Budget 2022.

Like any transformative novel technology, electric vehicles create an array of potent economic development challenges and opportunities. While the electric vehicle (EV) market is still at a relatively early stage, it is poised to reshape transportation worldwide.