THE ELECTRIC VEHICLE (EV) sector is seeing a transformative phase, evident in its massive growth in recent years. Data from the Ministry of Road Transport and Highways shows EVs accounted for 7.3 per cent of overall automobile sales, marking a shift towards sustainable transportation. With over 2.7 million registered EVs in India as of September 2023, the sector is poised for further expansion and innovation.
In the third quarter of 2023, EV sales stood at 371,214 units, growing 40 per cent over the previous year. Nearly 45 per cent of the EVs sold were electric three-wheelers, indicating the diverse range of EVs gaining popularity.
AI & Internet of Things
This story is from the January 13, 2024 edition of BW Businessworld.
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This story is from the January 13, 2024 edition of BW Businessworld.
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