Electric 2-wheelers to account for 8-10% of new sales by 2025; 3-wheelers to contribute 30%: ICRA

The electric two and three-wheelers volume are expected to account for 8-10 per cent and 30 per cent of new vehicle sales in the country by 2025, respectively, owing to low operating cost and attractive subsidy support, among others, ratings agency ICRA NSE 0.16 % said on Wednesday.

The penetration levels in cars and trucks, however, are likely to remain low in the medium-term, it said.

Globally, EVs now account for 4.4 per cent of new car sales during CY2020 and their share is likely to cross 5 per cent level this calendar year, as per ICRA.