india's EV sales are projected to surge by 66% in 2024. Learn about the rising competition and factors driving this expansion.
indicates that India’s electric vehicle market is expected to substantial growth in 2024. Sales are expected to surge by 66% compared to 2023, with EVs potentially accounting for 4% of total passenger vehicle sales.
Furthermore, Vietnam’s EV brand VinFast has also announced plans to establish a manufacturing plant in Tamil Nadu, indicating growing industry investment in India’s EV sector. Companies like Ola, Reliance New Energy, and ACC Energy Storage have made significant investments in this area. Combined with the Make in India initiative, this is expected to cut production costs and drive further EV sales.
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