Why 2024 will be the year of rise of e-LCV’s in India

Load-carrying vehicles are generally considered less suitable for electrification than passenger-carrying vehicles. However, the market around electric Light Commercial Vehicles (e-LCVs) appears to be nearing critical mass in 2024, driven by a combination of factors including growing sales, expanding model choices, and increasing government focus on reducing emissions in the transportation sector.

Two models – e-Zeo from Mahindra and another model from Euler Motors – are set to join the arena in the coming days. However, beyond anecdotal data such as model launches, numbers from the central government’s Vahan portal suggest that the category is seeing strong growth, albeit ...