EV penetration: At 1.1%, India is far behind Asian average of 17.3%
India has to push the pedal harder if it wants to be a significant player in the Asian electric vehicle (EV) and supply chain sweepstakes.
According to research from S&P Global Ratings, the EV penetration rate (EV sales as a percentage of total light vehicle sales, including passenger vehicles and light commercial vehicles) in India in calendar year 2022 was only 1.1 per cent, as compared to the Asian average of 17.3 per cent.
The countries covered in the region include China, Japan, South Korea, India, Indonesia, Malaysia, the Philippines, Singapore, Thailand, Vietnam, the greater China region, and Pakistan.
