The penetration of electric cars in India is projected to rise significantly, reaching 9 per cent by FY30 from the current 2 per cent, according to a report by Nomura. This shift is part of the country’s broader transition toward sustainable and eco-friendly mobility solutions. The report highlighted that electric vehicle (EV) penetration in passenger cars has remained stagnant at around 2 per cent over the past two years. It said “EV penetration in cars, which has been around approximately 2 per cent over the past two years, it is expected to grow to 5 per cent by FY27 and further to 9 per cent by FY30.

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Published on January 26, 2025