India may be touted as the next big market for electric vehicles (EV) but they will find the going tough for the next decade in the world’s third-largest oil-guzzling economy due to dominance of affordable cars and absence of meaningful policy drive for new energy mobility.
According to a report by Bloomberg New Energy Finance (BNEF), EVs will make up only 7% of annual vehicle sales in India by 2030. Sales will gather pace after this and reach 27% of annual vehicle sales by 2040, by which time 13% of passenger vehicles in the country will be EVs.
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