A report by SBI Capital Market reveals that Electric Vehicle penetration in India reached 7.4 percent registering a significant milestone from less than 1 percent in 2019. A report titled ‘Charging the Ecosystemic EV-olution’ estimates remarkable growth highlighting sales of electric vehicles may reach 30-35 percent of total vehicle sales by 2030.
EV accounts for one in every four vehicles with a combustion engine, compared to one in 40 vehicles five years ago.
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