Cautious optimism prevails as EV market cools
As electric vehicle manufacturers grapple with the withdrawal of subsidies for fleet vehicles and the continued exclusion of private cars from government support schemes, the industry faces significant challenges in maintaining adoption rates and market momentum in the coming years.
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Electric passenger vehicle sales in India have been on a downward trajectory, with September 2024 marking a 17-month low of just 6,098 units sold. Month-on-month sales have been declining since March, when subsidies for fleet EVs were discontinued.
Sales in March stood at 9,769 units, but by September, they ...
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