News > Indian EV Market projected to grow at over 40% CAGR till 2027: Report
Indian EV Market projected to grow at over 40% CAGR till 2027: Report
12/09/2024 05:17 PM | Click to read full article
The report by Niveshaay showed that EV sales volume in India could touch around 3-4 million units by 2025 and 10 million by 2030. The new report further stated that EVs are expected to penetrate the market with approximately 10-15 % of new vehicle sales in India (including two-wheelers, three-wheelers, and passenger vehicles), driven by government incentives, rising fuel prices, and increased consumer awareness.
