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By 2030, one crore electric vehicles will be sold annually in India, EV industry will gain momentum
Tata Motors, which has the largest share (about 75 per cent) in India's EV market, is preparing to launch its cheapest EV in the next month (January 2024). For this launch, the company has recently started opening a network of special showrooms for electric vehicles. But this is just a small glimpse of what Tata Motors is going to do in the EV market.
Sales of electric vehicles in the country have increased by 50 per cent to 13.87 lakh units in the first 11 months of the year 2023 and Roads and Highways Minister Nitin Gadkari has estimated that by the year 2030, one crore electric vehicles will be sold annually in India.
In just five years, not only has a strong foundation of the electric vehicle (EV) industry been laid in India, but many studies show that India will be established as an important centre of the supply chain of the EV industry in the world in the next decade.
The EV Expo that concluded last week in New Delhi shows that India is becoming the hub of innovation in the EV industry. Not only the big companies are engaged in creating the EV market here, but the preparations of medium and small companies and start-ups also point towards a better future for this industry. If we talk only about the big car companies, then in the year 2023, Two major car companies Hyundai and Tata Motors are about to launch very ambitious models in the EV market.
