Passenger vehicles to form 5% of total India EV sales by 2030: Study

The country, despite obstacles, is one of the largest such market in Asia, behind only China and ahead of Japan

The share of passenger vehicles in India’s fledgling EV market will be a mere 5 per cent by 2030 though 30 per cent of all vehicles sold will be electric by then, according to a study released Thursday.

The EV sector could attract foreign investments of about $20 billion by the turn of the decade, said the study by Arthur D. Little (ADL) and called 'Unlocking India's electric mobility potential'.

The sector, which is largely being driven by two wheelers, is likely to cross sales of 10 million vehicles by 2030, with an overall adoption rate of more than 30