India's passenger EV market will hot up in next 3-4 years
EV sales in India: In 2023, India's passenger vehicle sales grew 10 per cent YoY, but its electric vehicle (EV) sales nearly doubled to account for 2 per cent of the overall PV sales. This EV surge in EV sales can be can be attributed to factors like, government incentive schemes like PLIs, infrastructure development like more EV charging points, increasing urban consumer interest, and government push to meet green target.
EV sales in India: In 2023, India's passenger vehicle sales grew 10 per cent YoY, but its electric vehicle (EV) sales nearly doubled to account for 2 per cent of the overall PV sales. Image: Reuters