Japan is well known and reputed to be one of the foremost technological powerhouses in the world. From robotics to transportation, Japan has made significant advancements in various industries.

While many individuals are aware of Japan’s technological advancements, not everyone understands how they achieve this level of progress. It takes quite a lot of hard work and a disciplined approach to achieve such a massively long range of visions.

In the case of India, over the past few decades, it has become a major player in the global technology market. The country’s journey in the technological world has been marked by significant growth and innovation, with India emerging as a leader in software development and IT outsourcing.

However, the growth in India has shifted its focus towards domestic innovation and research, positioning itself as an innovation hub to drive the next wave of technological advancement.

The comparison between Japan and India’s electric car market highlights the key points: –

• Japan’s electric vehicle market is far larger and more developed than India’s. In 2020, Japan had over 300,000 electric vehicles on the road, whereas India had just approximately 6,000. Japan also has a greater 1.1% market share for electric vehicles, while India has less than 0.1%.
• Japan also has more incentives and policies to encourage the use of electric vehicles than India. Subsidies, tax breaks, preferential parking, and toll payments are available in Japan for electric car purchasers and owners.
• Japan also intends to stop the sale of new gasoline-only vehicles by 2035. Subsidies, tax cuts, and low-interest loans are available in India; however, they are limited and vary by state. A lack of defined national objectives or plans for electric vehicle deployment was observed in India.
• Japan has more electric car models and possibilities than India. Japan has roughly 40 electric car types on the market, but India only has about 10.
• Japan also has a wider selection of electric vehicles in terms of size, price, and range, whereas India mostly provides compact and low-cost versions with limited range.
• Japan has a larger charging infrastructure and network than India. Japan has over 40,000 public charging stations, while India has just approximately 1,500.
• Japan also has a high penetration of private charging outlets in homes and workplaces, but India confronts obstacles such as a lack of space, electrical availability, and safety requirements.

The prices of electric cars in Japan and India are:

• Tata Nexon EV vs. Nissan Leaf: The Tata Nexon EV is a small SUV that is one of India’s most popular electric vehicles. The Nissan Leaf is a hatchback that is one of Japan’s most popular electric vehicles. In its respective markets, the Tata Nexon EV starts at Rs 16.30 lakh (about $21,700), while the Nissan Leaf starts at ¥ 3.51 million (approximately $31,000). In this comparison, the Nissan Leaf costs more than the Tata Nexon EV.
• Hyundai Kona Electric vs. Toyota C-HR: The Hyundai Kona Electric is a subcompact SUV sold in both Japan and India. The Toyota C-HR is a tiny crossover that is exclusively offered as an electric vehicle in Japan. The Hyundai Kona Electric starts at Rs 23.75 lakh (about $31,600) in India and ¥4.51 million (approximately $39,800) in Japan. In Japan, the Toyota C-HR starts at ¥3.11 million (about $27,400). In this comparison, the Toyota C-HR is less expensive than the Hyundai Kona Electric.

Additional factors such as taxes, incentives, options, availability, and demand may also influence the final cost of any vehicle.

According to a report published in The Times of India, India has beaten Japan to become the third largest vehicle market in 2022 after China and the US, selling more than 4.25 million vehicles. However, this does not necessarily imply that India would outsell Japan in terms of electric car sales, as India’s electric car market share is currently very low, less than 0.1%, while Japan has a greater share of 1.1%.

According to an ET Energyworld report, India’s electric car industry would increase at a CAGR of 40% to 45% through 2030, reaching around 8.5 lakh units. However, this may still lag well behind Japan’s electric car industry, which had around 300,000 units in 2020 and is expected to increase at a modest rate.

It does not, however, indicate that India would surpass Japan in the electric vehicle market absent considerable adjustments to the regulatory environment and market dynamics that favor electric vehicles. India could catch up to Japan if the electric car market’s standards are implemented firmly and consistently.

Source: zmescience

The economics show that India may achieve undefeatable margins by weathering unforeseen or unpredictable catastrophes, such pandemics or natural calamities, for a good ten years. This is a robust, stable, and comfortable aim.

The major investment on the table by Japan to enter EV market in India:-

• Japanese auto parts manufacturer, Musashi Auto has invested Rs 70 crore to enter the Indian electric vehicle (EV) market.
• Terra Motors, a Japanese electric vehicle company ventured into the EV charging space in India, for the infrastructure development of EV.
• Suzuki Motor plans to manufacture electric vehicles in India and export them to Japan by 2025, aligning with India’s goal of achieving 30% EV sales by 2030.

Emotional and revolutionary, time.

Sources:- Business Standard, IISD, bolt, economictimes, reuters, nikkei Asia