India EV Market Trend Update 2024-Jun/ English
In recent years, the EV market in India has been growing, supported by government policies. Not only startups but also major companies are entering this promising market.
This report provides a monthly update on the rapidly growing EV market in India.
Sales Figures for FY24
E-2 Wheelers: 944,126 units
E-3 Wheelers: 632,485 units
E-4 Wheelers: 90,432 units
E-Buses: 3,693 units
Top EV Brands (June 2024)
2-Wheelers: OLA (36,716 units), TVS (13,899 units), Bajaj (8,985 units), Ather (6,097 units), Hero (3,068 units)
4-Wheelers: TATA (4,307 units), MG Motor (1,403 units), Mahindra (440 units), PCA Automobiles (236 units), BYD (229 units)
Recent News (June 2024)
- BII's Investment Plan: BII plans to invest $300 million in India's EV sector over the next three years.
- New EV Policy: The new EV policy is expected to intensify competition.
- Hyundai Motors' IPO Plan: Hyundai Motors plans to go public on the Mumbai Stock Exchange.
- Ather Energy's New Plant: Ather Energy to set up a new manufacturing plant in Maharashtra.
- Bajaj's New Model: Bajaj launched a new electric two-wheeler, Chetak 2901.
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