EV demand boosts auto sales in May
2W EV sales contributed 7% and 3W EV sales contributed a substantial 56% to their respective total sales.
2W EV sales contributed 7% and 3W EV sales contributed a substantial 56% to their respective total sales.
The government has reduced FAME-II (Faster Adoption of Manufacturing of Electric Vehicles in India) subsidy on electric two-wheelers from June 1, 2023.
Bain & Company expects 35-40% of all vehicles sold in India by 2030 to be EVs, up from 2% in 2022.
Companies like Ola, Okinawa, and Pure EV have recalled over 6,500 EVs after several fire-related incidents across the country