The game changer

India's planned transition to electric vehicles will drastically affect the commodities market

Being a cleaner and more efficient mode of transport, electric vehicles (EVs) are growing tremendously in terms of popularity. As per recent figures by the International Energy Agency, the number of electric cars has almost doubled from 1.26 mn in 2015 to 2 mn in 2016. It is estimated that the number will range between 9 mn and 20 mn by 2020 and 40-70 mn by 2025.

In India, Union Minister for Road Transport and Highways Nitin Gadkari recently reiterated the government’s target of having all new vehicle sales of only EVs by 2030.

Among the most important factors propelling