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EV sales in India likely to grow at CAGR of 35%; annual volumes may cross 27 million by 2032, says report

9 months ago Auto economictimes
The driving force behind this is a confluence of factors, including the availability of the FAME-II subsidy, which has proven to be a catalyst, with a substantial budget allocation of USD 1.2 billion assigned to subsidise various EV segments, it said. The central government's commitment to fostering an indigenous EV ecosystem is evident in the approval of a USD 3.5-billion Production-Linked Incentive (PLI) scheme for the manufacturing of automobiles and auto components, thereby nurturing the development of the EV supply chain in the country, as per the report. Read more at: economictimes

Tags : EV sales in India annual volumes Report Mumbai Electric Vehicle India Electric Vehicle Market Overview 2023 energy advisory India Energy Storage Alliance india electric

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