Electric vehicle penetration gap widens between India and other nations

As stakeholders debate whether electric vehicle (EV) subsidies should be continued or withdrawn, data shows that India’s EV penetration, or the sales of EVs as a percentage of total vehicle sales, is way behind many key countries in the world. And India will need to do some serious catching up to even meet the government’s own declared target of 30 per cent by 2030.  

According to an ICRA study, EV penetration in India in calendar year 2022 (CY22) stood at only 1.5 per cent, despite five years of the Rs 10,000 crore  Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FA