Automotive and Transportation India Electric Car Market Research Report | Page 2

India Electric Car Market
The share of electric cars in India remains low when compared to the developed countries. However, the electric
car sales have grown significantly over the last few years and would continue to grow strongly over the long
term. While rising middle class and government push for a sustainable development are benefiting the sales of
electric cars in the country, lack of infrastructure and high cost of electric cars are posing challenges to the sales
of these cars in India.
The Indian government has plans to increase its renewable power capacity from 30% in 2016 to 40% by 2030.
Electric cars can become a viable solution to store the intermittent renewable energy in the country. Rising
middle class would emulate the western car buying habits ensuring increasing sales of electric cars. Moreover,
low car penetration (19 cars per 1,000 people) also ensures significant opportunities for electric car companies
in long term.
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