Of late, the rate of EV adoption in India has picked up pace. While it is yet to be on par with fossil fuel-based cars, the number of EVs on the road is increasing, across the country. While the Indian govt has been promoting mass EV adoption and stressing its importance for quite some time, the last few years have witnessed faster EV sales and adoption.
The reasons are pretty obvious. Average Indian car buyers are now more environmentally aware and they are also focusing on lower running costs. Factors like the advanced features and a quiet driving experience are also wooing more buyers.
EV registrations in India stood at 1.25 lakh only in 2020. Cut to 2023 and it stands at 10.25 lakh units! Also, the increasing interest in EV vehicles in India is fuelled by the massive technological developments in the sector. Now, you will find EV models being launched that are technologically more advanced than their predecessors. You will find the latest EVs released by brands like Tata Motors with higher ranges than the earlier models. Government incentives have also boosted EV sales.
The growing EV adoption rate is surely an encouraging sign for the automobile industry and the environment but that does not mean challenges have ceased to exist. Some states have made good progress in developing EV charging infrastructure like Karnataka, Maharashtra, Delhi but others are lagging. Also, several charge point operators are now active in the sector and their unique apps and frameworks are hindering more adoption of EVs. The EV network is still limited to urban regions.