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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.

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