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Electric vehicles gain momentum in India, market to reach $250 billion by 2030

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Mobility Energy and Transportation

Mobility Energy and Transportation

Electric vehicles gain momentum in india, market to reach $250 billion by 2030

14 Aug 2024

1 min read
India's electric mobility sector is set to transform into a $250 billion market by 2030, driven by substantial investments in sustainable transportation. The ELECTRIFY30 report by Praxis Global Alliance forecasts a significant rise in electric vehicle (EV) adoption across various segments, projecting the product opportunity to reach approximately $94 billion with a penetration of about 23 Percent by FY30. This growth is anchored in both passenger and commercial vehicles, including two-wheelers and four-wheelers.

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Electric vehicles gain momentum in India, market to reach $250 billion by 2030 | PraxisGA