According to research by Arthur D Little, about a third of the vehicles sold in India by 2030 would be electric, headed by two- and three-wheelers, while electric penetration in the automobile market will remain low.
The overall sales of electric vehicles (EV) are likely to surpass 10 million units by 2030, according to the research. As a result, India will account for approximately one out of every ten electric vehicles sold worldwide.
Two-wheeler and three-wheeler categories are projected to lead the transformation. By 2030, the latter is predicted to have a 95 percent transition to EVs, while the former is expected to have a 35 percent penetration. By 2030, EVs are estimated to account for just 10% of passenger vehicle (car) sales.
“We are cautiously bullish about other markets but quite gloomy about passenger cars,” said Barnik Chitran Maitra, Arthur D Little’s managing partner, and CEO for India and South Asia.
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