INDIA AIMS FOR 30% OF ALL CAR SALES TO BE ELECTRIC BY 2030
The Free Press Journal|March 25, 2024
Demand for EVs is booming, driven by govt incentives, reducing battery costs, reports CareEdge
INDIA AIMS FOR 30% OF ALL CAR SALES TO BE ELECTRIC BY 2030

An analysis by Care Edge Ratings shows that the demand for vehicles powered by traditional fuels is progressively shifting towards those that utilise alternative fuels.

The share of petrol vehicle sales, as a percentage of total vehicle sales, has recorded a significant decline, decreasing from 86% in 2020 to 76% in 2023 while for diesel vehicles it has slightly decreased from 12% in 2020 to 11% in 2023. The sales volume of alternative fuel-driven vehicles recorded a growth of more than 400% in CY 2023 as compared to CY2020, though on a much smaller base.

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