Indian EV market to touch one crore units in annual sales by 2030: Nitin Gadkari

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The minister further said the Indian EV market potential is likely to touch Rs 20 lakh crore by 2030 across the entire EV ecosystem, with an estimated EV finance market size is Rs 4 lakh crore.

In 2023-24 there was a 45% increase in sales of EVs, and 400 startups in electric two-wheelers have already started manufacturing, he added.

Asking automakers to take measures to promote old vehicle scrappage, Gadkari said discounts of up to 3% are being offered on new vehicles for scrapped vehicles by some players is just the beginning.

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Article Details

Author / Journalist: Press Trust of India

Category: StartupsEconomyBusiness

Markets: IndiaTaiwan

Topics: Vehicles Sales Manufacturing Crore India Market Indian Gadkari Minister Lakh Electric

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-10 @ 10:42:03 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 388 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 19 words per sentence (average)

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Copyright Owner: © YourStory

News ID: 22447500

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