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India’s electric-vehicle market is taking off because of an abundance of cheap new models. Sales of passenger EVs in the country rose to 75,000 in the nine months through September — that’s more than double the volume during the same period last year. While their share of the total market remains small at 2.4%, a closer look at the underlying trends highlights an important insight for EV makers hoping to make inroads in India: Some 86% of all electric cars sold this year were priced under $20,000.
Read more at: https://www.bloomberg.com/news/newsletters/2023-11-03/india-s-ev-market-takes-off-on-10-000-electric-cars