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Carmakers Flock to India’s Booming NEV Market – Pandaily

India is set to overtake Japan as the third largest car market by 2025, but it still lacks charging stations, the Chinese outlet reports.


India's car market is expected to become the world's third largest by 2025 but it currently lacks a large number of charging stations for electric vehicles. A traffic jam in New Delhi is seen in this file photo by Reuters' Anushree Fadnavis from 2021.

 

Car firms worldwide are eyeing India’s fast-growing new energy vehicle market, which is set to overtake Japan as the third largest car market by 2025, according to a report by Pandaily, which said carmakers such as China’s BYD, Germany’s Mercedes-Benz and Volkswagen, plus Japan’s Suzuki have all flocked to India this year.

The Indian government had forecast that 40% of new vehicles sold in the country would be fully electric by 2030, the report said, but it noted that high tariffs and a lack of charging infrastructure were still hampering the outlook for makers of electric vehicles.

Read the full report: Pandaily.

 

 

Read more:

Japan’s Sony And Honda Team up to Make Luxury EV

China’s BYD Bidding to Make EV Breakthrough in Japan

EV Battery Maker CATL Expects Profits To Almost Triple in Q3

 

 

Alfie Habershon

Alfie is a Reporter at Asia Financial. He previously lived in Mumbai reporting on India's economy and healthcare for data journalism initiative IndiaSpend, as well as having worked for London based Tortoise Media.

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