Excerpt from bloomberg.com
Less than 1% of cars and SUVs sold in India are electric. Leading automaker Maruti Suzuki, which accounts for half of all car sales, doesn’t offer a single EV, and has repeatedly said the higher cost of the models currently puts them beyond the reach of most Indian consumers.
As other nations accelerate a shift away from gas guzzlers, the prospects for the fifth-largest auto market to quickly become a hub for sales of electric sedans and pickup trucks appear to be receding.
Speaking to an industry body last week, Gadkari said the government is now aiming for electric models to account for about 30% of private car sales from the start of the next decade and 40% of buses.
There’s far more optimism over the prospects for two- and three-wheelers, a segment that could see 80% of sales met by battery-powered models from 2030, according to the minister.