Our unique EV transition is a leadership opportunity
India should double down on its thrust by focusing on cost sensitive users of two and three wheelers
If in the West the environmentally conscious and affluent are going the electric vehicle (EV) way with four-wheelers like Tesla’s, a unique transition is happening in India. Here, it is being spearheaded by two- and three-wheelers. Electric two-wheelers and three-wheelers (including e-rickshaws) accounted for 92% of EVs registered in the country in 2022. And the 2023-24 budget gave the EV industry a boost by announcing the removal of customs duties on capital goods used for manufacturing lithium cells used in these vehicles.