EV penetration in both passenger cars and two-wheelers needs a boost if India wants to meet its aggressive green targets. Pure electric cars accounted for nearly 1 per cent (33,000) of 3.3 million car registrations in 2022. If hybrid electric cars sold last year (19,556) are included, the combined share of the two (e-cars and hybrid electric cars) would go up by only 0.5 percentage points in total car sales.
Unlike many countries in Europe and some key markets like Japan and South Korea, India does not have a vibrant hybrid (petrol and electric) car market in its quest to make a direct transition from ICE to electric.
Consider this: The share of battery electric vehicle (BEV) registrations in Europe (10 major countries) stood at 15.4 per cent (1.41 million) of overall passenger car registrations in 2022, according to PWC data. On the other hand, the share of hybrid electric cars stood at 23.9 per cent (2.18 million units). In countries
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