Tata Motors hold nearly 3/4th of India's electric vehicle market
The latest Canalys research reveals that India’s light vehicle market grew by 9.8% in H1 2023 to 2.0 million units, up from 1.8 million in H1 2022. Electric vehicles (Evs) occupied 2.4% of the Indian market share and the market grew by a phenomenal 137% year on year with 48,000 Evs sold.
Ranked as the world’s third-largest automotive market, India showcases significant magnitude. Numerous automotive OEMs are aligning their mobility strategies with the government’s objective of Evs attaining 30% of all vehicles sold by 2030. To achieve this goal, the OEMs will introduce more EV models during the latter half of this decade. Improving EV charging infrastructure in the country will also complement this strategic move. “Continuing its momentum from 2022, the Indian EV market grew significantly in H1 2023. There is now a good choice of inexpensive and premium Evs, providing an inclusivity-driven expansion during the first half of the year to potential customers,” said Ashwin Amberkar, Analyst at Canalys. “Affordable, feature-loaded Evs are attracting budget-conscious buyers and it has widened the market’s reach across various economic classes this year. Premium Evs with a longer range and features including advanced connectivity, upgradable infotainment and ADAS technology have proved ...
Ranked as the world’s third-largest automotive market, India showcases significant magnitude. Numerous automotive OEMs are aligning their mobility strategies with the government’s objective of Evs attaining 30% of all vehicles sold by 2030. To achieve this goal, the OEMs will introduce more EV models during the latter half of this decade. Improving EV charging infrastructure in the country will also complement this strategic move. “Continuing its momentum from 2022, the Indian EV market grew significantly in H1 2023. There is now a good choice of inexpensive and premium Evs, providing an inclusivity-driven expansion during the first half of the year to potential customers,” said Ashwin Amberkar, Analyst at Canalys. “Affordable, feature-loaded Evs are attracting budget-conscious buyers and it has widened the market’s reach across various economic classes this year. Premium Evs with a longer range and features including advanced connectivity, upgradable infotainment and ADAS technology have proved ...
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