How India’s EV adoption will soar by 2030

The Indian EV industry is on a fast lane to growth, where it is expanding at a phenomenal rate to capture the major share of the automotive industry in the years to come. With the country pledging to become an EV-first nation by 2030, it has been making significant strides to democratize electric vehicles to promote clean mobility across the nation. Along similar lines, the government has been supporting the transition to EVs with the help of incentives and subsidies, driving the deeper penetration of the vehicles in the market. If the report by ICRA is to be believed, then the EV landscape looks very promising with the potential to grow exponentially by 2030.