India’s EV market to grow 66% in 2024, likely to represent nearly one-third of PV sales by 2030

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Electric vehicle (EV) sales in India are expected to rise 66 per cent this year after nearly doubling in 2023 as the state subsidies help fuel demand and supporting infrastructure comes up in the country, According to a recent report by research firm Counterpoint. This comes after India’s EV sales nearly doubled in 2023, driven by rising consumer interest and concerns over climate change. The projections for 2024 show that the rising EV sales will constitute four of total passenger vehicle (PV) sales, driven by new entrants and government subsidies. By 2030, EVs are expected to represent nearly one-third of India’s PV market, signaling a robust long-term growth trajectory in the country’s automotive sector, said the research firm in its report published late last week.
Read more at: https://www.livemint.com/industry/energy/indias-ev-market-to-grow-66-in-2024-likely-to-represent-nearly-one-third-of-pv-sales-by-2030-11712674882925.html

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