Connected vehicle technology expands 60% in India in the first fiscal quarter

The world is rapidly moving towards smart cars that are built with Connected Vehicle (CV) technology. The first quarter of this fiscal year has been highly profitable for Connected Vehicle technology as it has recorded a tremendous growth of 60%, while the electric vehicle (EV) market also achieved a massive growth of 48%, as per IANS. By the end of the next fiscal year’s first quarter, the electric vehicles market share is expected to exceed 24% in India, where connected vehicles share is expected to reach 30% of the market.  

The Government of India is giving a massive push to the electric vehicle industry, intending to drastically cut down carbon emissions in the country. But more than just countering carbon emissions, the Union Minister for Road Transport and Highways is also pushing for vehicle technologies that will increase passenger safety and reduce road accidents. With the current projections, it is likely that the automobile sector will witness a major transformation by the end of this decade as the masses shift to smart car technology over traditional vehicles.