Mumbai, June 25: With an improving adoption rate, electric car sales in India are likely to reach 1.3-1.5 lakh in the current fiscal year (FY25), according to a CareEdge Rating report.
After a record growth of 90 per cent with volumes at 90,432 units in FY24, the electric car penetration is consistently increasing in the country, driven by the government’s efforts towards a more sustainable, environmentally friendly, and efficient transportation sector.
The shift to electric mobility extends beyond cars and trucks and e-rickshaws and e-karts are also gaining popularity across the country.
As per the report, the overall passenger vehicles (PV) industry is expected to exhibit moderate volume growth of around 3-5 per cent in FY25, on account of a high-base effect of FY24, shrinking order book and expectation of persistently subdued demand for entry-level variants in FY25.