Green technology and the future of the automotive industry

economictimes.indiatimes.com:

automotive industry. From production to disposal, the industry's contribution to climate change and CO2 emissions remains a pressing concern. Undoubtedly, moving towards a greener, more ecological solution presents an ideal business move for automobile manufacturers, offering significant potential to drive a more sustainable future. Resultantly, companies are actively seeking to launch their electric vehicle in the market. Recent statistics highlight the transformative impact of green energy on the automotive industry, with electric vehicle (EV) sales witnessing remarkable growth.

According to the International Energy Agency, a record 10 million electric cars were sold globally in 2022, up from 6.9 million in 2021. China, Europe, and the US claim most of the market share. India, though a little behind in electric cars, registered EV sales across all vehicle segments for 12,43,258 units in 2022, a 154% increase over 2021 sales, with electric two-wheelers accounting for the most sales. This surge in demand for greener transportation signifies a paradigm shift towards a more sustainable future for the automotive industry in India. Evidently, top EV companies like Tesla and BYD have also started protecting their technologies in India. In the last decade, Tesla has filed and acquired around 30 patents related to EV batteries. At the same time, BYD has filed 125 patents. While Tesla is pushing to establish in India, BYD seems to be growing fast in the last few years. Tesla had even registered a company named Tesla India Motors And Energy in Bengaluru but didn’t process further due to heavy import duties. Ever since there’s been to