Growth of Electric Vehicles in India

B. Jemima Grace*, J. Ferusha Pearl**
* Assistant Professor, Department of Commerce, Arunachala Arts and Science (Women) College, Vellichanthai, Nagercoil, Kanyakumari District, Tamil Nadu. (Affiliated to Manonmaniam Sundaranar University, Abishekapatti, Tirunelveli - 627012).
** Assistant Professor, Department of Commerce, Women's Christian College, Nagercoil - 629001 (Affiliated to Manonmaniam Sundaranar University, Abishekapatti, Tirunelveli - 627012).
Periodicity:July - December'2024
DOI : https://doi.org/10.26634/bresearch.24.2.21370

Abstract

This study examines the rapid growth of the global electric vehicle (EV) market, with a focus on India. In FY2022, 455,733 EV units were sold, while India's Ministry of Road Transport and Highways reported that 1,334,385 electric vehicles were on Indian roads as of July 2022. The number of EVs is expected to rise, driven by the efforts of central and state governments, as well as private sector players, to promote electrification on Indian roads. EVs are gaining global attention for their role in reducing emissions and conserving natural resources. In India, the EV market saw a significant 168% year-over-year increase in 2021, with nearly 0.32 million vehicles sold. The adoption of electric vehicles in India supports the Paris Agreement's goals of reducing carbon emissions, improving air quality in urban areas, and decreasing oil imports. Uttar Pradesh led the EV market in 2021 with 66,704 units sold, followed by Karnataka with 33,302 units and Tamil Nadu with 30,036 units. Uttar Pradesh dominated the three-wheeler segment, while Karnataka and Maharashtra led in the two- wheeler and four-wheeler segments, respectively. This study aims to analyze the growth, production, and sales of electric vehicles in India, using secondary data for analysis.

Keywords

Electric Vehicles, Sales, Production, Two Wheelers, Three Wheelers.

How to Cite this Article?

Grace, B. J., and Pearl, J. F. (2024). Growth of Electric Vehicles in India. B-Research, 24(2), 40-44. https://doi.org/10.26634/bresearch.24.2.21370

References

[4]. Singh, S., Sharma, N., Chandrakant, S., & Singh, S. P. (2021, March). Electric vehicles in India: A literature review. In 7th International Conference on New Frontier in Energy, Engineering and Science (NFEES) (pp. 19-20).
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