30% of vehicles sold in India by end of decade will be electric: Report
Almost a third of the vehicles sold in India by 2030 will be electric led by two- and three-wheelers but the penetration of electric in the car segment will remain low, according to a report from Arthur D Little.
The total sales of electric vehicles (EV) by 2030 are expected to cross the 10-million-units mark, the report further said. With that, nearly one in every 10 EVs sold worldwide will be sold in India.
The transition is expected to be led by two-wheeler and three-wheeler segments. The latter is in fact expected to have 95% transition to EVs by 2030, while the penetration in the former is expected to be around 35%. For passenger vehicles (cars), EVs are expected to account for just 10% of sales by 2030.
"We are cautiously optimistic about other segments but reasonably pessimistic about passenger vehicles," Barnik Chitran Maitra, managing partner and CEO for India & South Asia at Arthur D Little said.
Read more at: https://economictimes.indiatimes.com/industry/renewables/30-of-vehicles-sold-in-india-by-end-of-decade-will-be-electric-report/articleshow/92262921.cms