In the pursuit of a sustainable future, the global movement to reduce carbon emissions has gained momentum, driving nations to explore alternative energy sources beyond traditional fossil fuels, and addressing the world’s energy storage challenges. India stands at a crossroads, contemplating a shift towards batteries, hydrogen, CNG, and biofuels to pave the way for a cleaner, greener future.
India’s electric vehicle segment achieved a historic milestone in 2023, surpassing 1.5-million-unit sales with an impressive 50% year-on-year growth. Despite policy initiatives and incentives like Auto Production Linked Incentive (PLI) and FAME II, EV penetration remains relatively low, accounting for only around 1% of total sales.
