Automotive
Electric vehicles gain momentum in India, market to reach $250 billion by 2030
14 Aug 2024
India's electric mobility sector is set to transform into a $250 billion market by 2030, driven by substantial investments in sustainable transportation. The ELECTRIFY30 report by Praxis Global Alliance forecasts a significant rise in electric vehicle (EV) adoption across various segments, projecting the product opportunity to reach approximately $94 billion with a penetration of about 23 Percent by FY30. This growth is anchored in both passenger and commercial vehicles, including two-wheelers and four-wheelers.