Reviewed by: Kranti Sambhav
Written by: Aquib Nawab
Credits: olaelectric
EV Spotlight
Union Minister Nitin Gadkari has predicted that the Indian electric vehicle (EV) market could reach a staggering Rs 20 trillion by 2030. This growth will be driven by rapid adoption, technology advancements, and strong government policies.
Credits: gadkari.nitin, Instagram
By 2030, India is expected to sell 10 million electric vehicles annually. This includes electric two-wheelers, cars, and commercial vehicles. The shift towards EVs is fueled by increasing awareness about environmental benefits.
Credits: Overdrive
As of 2024, over 30 lakh electric vehicles are already registered in India, with two-wheelers making up 56% of total sales. This reflects a growing consumer preference for electric mobility.
Credits: Overdrive
In the fiscal year 2023-24, India witnessed a 45% increase in EV sales, showcasing strong momentum in the market. This growth is a clear indicator of the expanding interest in clean and sustainable transportation.
Credits: Overdrive
Gadkari Ji also highlighted that the EV industry could generate 5 million jobs by 2030. These opportunities will span across manufacturing, R&D, charging infrastructure, battery production, and EV service.
Credits: Overdrive
The market for EV financing is projected to grow to Rs 4 trillion by 2030. This expansion will be driven by increasing demand for affordable financing options and the entry of both traditional banks and fintech companies into the EV space.
Credits: Overdrive
With advancements in battery technology and increased domestic production, the cost of electric vehicles is expected to match that of petrol and diesel vehicles by 2026. This price parity will make EVs a more attractive option.
Credits: Canva
As India drives towards a greener future, your support is crucial. Let’s work together to build a cleaner, more sustainable transportation system. Be part of the #GreenBharat movement and contribute to the road to a green India.
Credits: Unsplash
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