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Electric vehicle adoption in India will be led by three-wheelers

From pv magazine India.

A joint research by KPMG and the Confederation of Indian Industry (CII) expects India to see a gradual, phased adoption of electric vehicles. The market penetration will be the fastest in the three-wheeler (3W) segment, followed by electric buses, two-wheelers and then passenger taxis.

The report expects electric vehicles to account for 65-75% of new sales in the three-wheeler (3W) segment and 25-35% in two-wheeler (2W) in 2030.

Intra-city transport buses will see 25-40% penetration.

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However, the adoption in passenger 4W segment will lag, with 10-15% penetration in personal cars and 20-30% in the commercial segment (electric vehicles for shared transport, including by taxi aggregators such as Ola and Uber).

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Source: pv magazine