Electric vehicle (EV) adoption may pose a threat to the “dominance” of compressed natural gas (CNG) sector in India, according to a report released on Tuesday.
Indraprastha Gas Limited (IGL) reports high growth but the city gas distributor’s future may be limited amid the EV surge – a trend reported for such companies in China, said the report by finance house Prabhudas Lilladher (PL)
Transition to EVs
Last November, the Delhi government mandated cab aggregators and delivery service providers to transition their entire fleet to electric vehicles by 2030.
