Higher fuel costs boost EV sales in India
Interest in electric vehicles in India is increasing, driven by rising fuel prices, ambitions for stricter emissions regulations, and government policies. The electric vehicle market grew by 25% in the past year, with EVs now comprising over 5% of passenger vehicle sales, especially in larger cars and two-wheelers. Challenges remain, including inadequate charging infrastructure and reliance on imported raw materials, but regulatory developments are expected to accelerate adoption.
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