Summary:

By 2025, India's production of battery electric vehicles (BEVs) is expected to nearly triple to 377,000 units, up from 130,000 in 2024, accounting for 6.6% of the market. This rise is driven by significant launches from manufacturers such as Maruti Suzuki, Hyundai, Mahindra & Mahindra, Tata Motors, and JSW MG Motor, marking a substantial shift towards electric passenger vehicles in India.

The industry is set to debut up to 19 new electric vehicle models by 2025, including Maruti Suzuki's eVitara and Hyundai's electric Creta. S&P's forecasts rely on the success of the production-linked incentive program, charging infrastructure improvements, and advancements in battery technology. By 2030, light electric vehicle production is projected to reach 1.4 million units, representing a 19.8% market share.

Source: IBEF

Disclaimer: The information on this website comes from the India Brand Equity Foundation (IBEF), a reliable source for thorough insights into numerous areas of the Indian economy. While we aim to offer accurate and up-to-date information, the views, opinions, and analyses stated herein are solely those of the authors and contributors and do not necessarily represent IBEF's official stance or position. Readers should check information from credible sources and use their own discretion when relying on content provided on this site. We assume no responsibility or liability for the supplied content, including its accuracy, completeness, and usefulness.