Former Niti Aayog CEO tells Indian automakers to 'raise ambition' as China leads electric cars' market
Year Ender 2023: Top EVs that took center stage in India's 2023 auto market "The race to capture electric car markets globally is presently on. Chinese carmakers account for nearly half of global electric sales. The market is led by BYD at 18% followed by Tesla at 12%.
Indian carmakers account for just 1% of global electric car sales.," Kant wrote on the X platform. Upcoming Maruti Suzuki cars in India in 2024: New Swift, eVX electric SUV, more Kant, who is also an author of books like Incredible India 2.0 and Made in India, added that the domestic EVs market is led by Tata Motors at 75%, SAIC- MG (13%) & Mahindra (5%). In a strong projection, Kant said "The world is going EV and by 2030 the EV car sales are expected to be China -65%, Europe -60% and USA -50%".
From Tata Motors to Kia: Upcoming electric SUVs coming to India in 2024 Henceforth, the bureaucrat suggested Indian automakers raise their ambition in a bid to capture the global electric cars market. Notably, the Centre has been pushing to increase domestic manufacturing of EVs and encourage a more rapid adoption of cleaner transport but it hasn't taken off, with their share of the total market remaining at 2.4%. As per a Bloomberg report, sales of passenger EVs in the country rose to 75,000 between Jan-September 2023.
Will Sajjan Jindal’s EV gamble pay off? However, buyers are hesitant to make the switch due to electric cars’ high upfront cost and a dearth of charging stations. Last year, in the first nine months, Tata Motors' Tiago compact EV accounted for 39% of EV shipments. Automakers in the country have committed nearly $5.4 billion in investments to set up or expand their EV manufacturing facilities.
Read more on livemint.com
