Summary:

Electric car sales in India grew 20% in 2024, reaching nearly 10 lakh units, up from 8.26 lakh in 2023, despite concerns over charging infrastructure, battery life, and resale values. The segment now accounts for 2.4% of 4.07 million vehicles sold, up from 2.1%. Price reductions at the year’s end significantly boosted demand, according to FADA.

Tata Motors led India's electric vehicle market in 2024, selling 6,14,96 units despite a market share drop from 73% to 62%. It plans to launch new SUVs like Harrier, Safari, and Sierra. JSW MG Motor's sales soared 125%, reaching 2,14,84 units, driven by the Windsor SUV and battery rental options. Price cuts by both companies boosted demand. Upcoming models from Maruti Suzuki, Hyundai, and Mahindra, along with government incentives, will further drive growth.

Source: IBEF 

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