Live Mint

How EVs in India zipped past 1 million mark in 2022

Every 20th vehicle registered in India in 2022 was an electric vehicle (EV); more than one million of them were sold for the first time in a year. Much of the remarkable growth was led by two-wheelers and three-wheelers, billed as the low-hanging fruits in the industry. Government incentives have been instrumental, so have serious questions that the world is grappling with about averting a climate disaster. The EV market’s future prospects look bright. By 2030, a million four-wheelers and nearly 13 million two-wheelers sold annually are expected to be EVs, according to the Council on Energy, Environment and Water. However, several obstacles need clearing before the country can challenge the impressive growth of EVs elsewhere, such as in China. Mint explores India’s prospects in the electrically-powered automobile sector.

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