Electric Vehicles

EVs at the Centre of India’s Car Show in Clean Mobility Push

 

Electric cars, scooters and trucks are set to take the centre stage at India’s biennial car show as the world’s third largest automobile market continues its push for clean mobility.

Firms from Hyundai Motor to SAIC Motor, BYD and Tata Motors are set to focus on electric cars at the India Auto Expo, which kicks off on the outskirts of capital New Delhi on Wednesday.

Suzuki Motor Corp’s India unit Maruti Suzuki and Toyota Motor are also expected to showcase other technologies, including hybrid and hydrogen fuel-cell vehicles.

 

Also on AF: Sony, Honda Reveal Prototype of ‘Intelligent’ Afeela EV

 

The clean vehicle push comes at a time when the world’s third largest carbon polluter is looking to cut emissions and pollution in major cities while also reducing its oil import bill.

The Indian government is offering companies millions of dollars in incentives to build electric vehicles (EVs) and their parts locally.

Electric models make up less than 1% of total car sales in the country, which overtook Japan in 2022 to become the world’s third largest auto market for the first time. And while the sector is gaining momentum, its market share remains far short of the government’s lofty target of 30% by 2030.

 

Meanwhile, electric-two wheelers have been leading EV sales charts in India. Industry data show they accounted for 62% of the EVs sold in the country in the first nine months of the current fiscal year.

Electric scooter sales are also set to make up more than 5% of total scooter and motorbike sales in India in the current fiscal year, analysts estimate.

The auto show, being held after a year-long postponement due to the Covid-19 pandemic, will also feature electric mobility start-ups like Greaves Cotton, Matter Motorworks, Tork Motors and Omega Seiki Mobility.

The EV start-ups are expected to showcase e-scooters, ‘last-mile’ delivery vehicles and passenger carriers.

 

  • Reuters, with additional editing by Vishakha Saxena

 

Also read:

India’s Electric Vehicle Sales Soar 900% Over Two Years – ET

Renault Looking at ‘Made-in-India’ Electric Vehicle Plan

India’s Electric Bus Firms Struggle to Access Bank Loans

India’s Electric Rickshaws an Example for Developing Nations – NYT

Vishakha Saxena

Vishakha Saxena is the Multimedia and Social Media Editor at Asia Financial. She has worked as a digital journalist since 2013, and is an experienced writer and multimedia producer. As a trader and investor, she is keenly interested in new economy, emerging markets and the intersections of finance and society. You can write to her at vishakha.saxena@asiafinancial.com

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