Electric cars to remain niche segment in near future, ICE rule to continue


Despite the push for electric vehicles and sustainability, the market share for automobiles will be dominated by internal combustion engine (ICE)-driven cars for at least a decade for a multitude of reasons, top-most of which is the absence of an accompanying charging infrastructure across the nation.

According to research by IHS Markit, for an ecosystem still grappling with infrastructural issues, high costs of EVs and a greater OEM focus on electrifying two-wheelers and commercial vehicles, the share for such vehicles would be at four per cent by 2030. The passenger-car market in India has seen sales volumes of over three million units during the past few years.

A study by Crisil Research shows that by 2024, 43-48 per cent of new three-wheelers (excluding e-rickshaws), and 12-17 per cent of new two-wheelers sold in India will be electric vehicles but traction may be low for four-wheelers, with only five per cent of new sales likely to be Evs.




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