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EVeium will work towards providing users with the finest array of EV offerings including – electric scooters, bicycles and electric bikes, among others, the company said. They have already it has already started onboarding dealers and is looking to have its presence in Maharashtra, Gujrat, Tamil Nadu, Andhra Pradesh, Telangana, Kerala, Karnataka, Delhi- NCR, Uttar Pradesh, Madhya Pradesh, Odisha, and West Bengal by the end of this fiscal as a part of its initial expansion plan.

Business plans of automobile firms in India illustrate the rising income inequality. While a few want to remain invested in the small-car market as they command a significant share and tap those moving from the two-wheeler segment, most others see more profit in selling to the rising upper middle class and nouveau riche and the long-time wealthy.

Speaking to CNBC-TV18 on the sidelines of World Economic Forum Davos 2022, the team at McKinsey said they expect India to capture USD 300 billion in value from IT and digital services by 2030. They expect significant growth in sunrise sectors like renewables, electronics, solar panels and EVs.