Nomura Research expects EVs to account for 15 per cent of the private vehicle market by 2030
Come 2025, the slugfest for India’s nascent electric passenger vehicle market will intensify. Over a dozen electric models, including pure electric cars or “born electric” models from Tata Motors, Mahindra & Mahindra and Suzuki Motor Corp’s first electric offering, are expected to go on sale.
The plans come amid the government’s aim to have electric vehicle (EV) sales accounting for 30 per cent for private cars by 2030.
In many ways, the year will mark an inflection point for a market that has so far seen the EV goals being realised on two wheels, not four. Also, the proposed entry of automakers like Maruti Suzuki and Hyundai, among others in the segment, with their “mass-market EVs” is set to intensify competition.
First Published: Jun 02 2022 | 06:04 AM IST