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HomeSustainabilityElectric Vehicle EcosystemIndia Among World’s Fastest-growing EV Markets

India Among World’s Fastest-growing EV Markets

The city of Bengaluru has become a hotbed for electric mobility, with electric
delivery scooters, rickshaws and a surge in electric transport startups transforming
the urban landscape.

India is now among the world’s fastest-growing electric vehicle (EV) markets,
boasting millions of EV owners. In a country where more than 90 percent of its 2.3
million electric vehicles are two- or three-wheelers, the shift to electric motorbikes,
scooters and rickshaws has been particularly pronounced, with over half of three-
wheeler registrations in 2022 being electric.

EVs offer a solution to mitigate planet-warming emissions and improve air quality,
especially as road transport significantly contributes to global emissions. However,
experts stress the need to transition electricity generation away from fossil fuels,
secure critical mineral supply chains, and expand EV adoption across different
socioeconomic backgrounds for the market to truly slash carbon emissions.
While two- and three-wheelers, primarily used for deliveries and rides, have
rapidly embraced electric models due to their cost-effectiveness, long-term
viability hinges on securing critical minerals for batteries and ensuring a clean
source of electricity.

Despite the challenges, India’s swift transition to smaller electric vehicles could
serve as a blueprint for other emerging economies, particularly those where two-
and three-wheelers dominate the transportation landscape. Nations like Indonesia,
the Philippines, and several African countries could draw inspiration from India’s
electric mobility revolution, setting the stage for cleaner and more sustainable
urban transportation.

 

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