EV car sales penetration in India to cross 7% by FY28, says CareEdge
is expected to cross 7 per cent by FY28 subject to timely resolution of rare earth element (REE) disruption and riding on the back of new model launches, according to a report by
CareEdge Advisory
.
The increase in penetration would also be dependent on government push for improving the charging infrastructure in the country.
India's electric car ecosystem has witnessed significant momentum over the past three years, growing from just over 5,000 units in FY21 to more than 1.07 lakh units in FY25, it said.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Impotência tem cura? Clique e descubra
Tratamentos
Saiba Mais
Undo
"India's electric car sales penetration is likely to cross 7 per cent by FY28, provided rare earth disruption is resolved in a timely manner. With a robust pipeline of model launches, expanding
EV charging infrastructure
and
battery localisation
under the PLI scheme, India is well-positioned to accelerate EV adoption," Tanvi Shah, Senior Director & Head, CareEdge Advisory & Research said.
While electric four-wheelers still comprise a small share of total EV sales -- dominated by two- and three-wheelers -- the segment is now entering a high-growth trajectory supported by both public policy and private sector commitment, it added.
Live Events
The report noted that charging infrastructure, historically one of the most significant bottlenecks in India's electric vehicle (EV) adoption journey, is witnessing unprecedented growth.
Over the past three years, the number of public EV charging stations in the country has grown from 5,151 in CY22 to over 26,000 by early FY25, it said.
Besides, initiatives such as FAME III, production-linked incentive (PLI) scheme for advanced chemistry cell (ACC) batteries, and basic customs duty exemptions on critical battery minerals -- including cobalt, lithium-ion waste, and graphite -- are expected to lower vehicle production costs and improve domestic supply chain resilience, it added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
20 minutes ago
- Time of India
Donald Trump's new India tariffs could hit American household kitchen cabinet. Here's how, why?
A dash of this and a pinch of that could cost more in American kitchens with new tariffs on goods from India. Many spices used by home chefs, restaurants and large manufacturers are imported from India, and the 50 per cent tariffs on the country imposed by President Donald Trump could drive costs higher, a trade association warned Wednesday. Last year, the United States imported more than $410 million in spices from India, according to the U.S. Department of Agriculture. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Several essential spices, including cinnamon, pepper, nutmeg and cloves, require tropical climates and, therefore, cannot be grown in the United States on a large enough scale to meet demand, Laura Shumow, executive director of the American Spice Trade Association, said in a statement. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Would you like to know more? Undo The spice industry is one of many sectors that are tallying up the potential costs of Trump's trade wars with various partners, warning that the fallout could hit either profits at American companies or consumers' wallets. In late June, executives at McCormick warned that Trump's tariff policy could cost the spice company $90 million a year. Live Events "Tariffs on these products -- including additional new tariffs announced this week -- do not incentivize U.S. production or create American jobs," Shumow said. "Instead, they place an undue financial burden on U.S. food manufacturers, restaurants and, ultimately, American consumers." The spice association noted that in the framework of a trade deal with Indonesia, the Trump administration had created the potential for exemptions or reductions in tariffs for commodities not naturally available or produced in the United States. The trade group said it hoped a similar framework could be put into agreements with other nations. "We firmly believe that smart, targeted trade policies can support the U.S. spice industry and other American businesses," Shumow said, "while helping to keep grocery costs down for families." FAQs Q1. How much tariffs Donald Trump imposed on India? A1. President Donald Trump has imposed 50 per cent tariffs on India. Q2. What are trade relations between USA and India? A2. Last year, the United States imported more than $410 million in spices from India, according to the U.S. Department of Agriculture.
Time of India
20 minutes ago
- Time of India
Woman lawyers' group to join case over curbs on public access to toilets in fuel stations
Kochi: Lady Lawyers' Association of Wayanad (LAWA), an organisation dedicated to the welfare and professional advancement of women lawyers in Wayanad, has approached the high court with a petition seeking to implead itself in a pending case where the court restricted access to toilets at petrol bunks exclusively to customers. HC had issued the interim order in June, in a petition by Petroleum Traders Welfare and Legal Service Society and four of its members who own petrol bunks, challenging the actions of local self-govt institutions. The petitioners opposed the authorities' move to convert private toilets within the premises of petrol bunks into public toilets, in accordance with the revised guidelines of the Swachh Bharat Mission – Urban. In its impleading petition, LAWA argued that access to safe and hygienic sanitation facilities is a fundamental aspect of the right to life and dignity under Article 21 of the Constitution. It further contended that HC's interim order, which restricted access to the toilets at petrol bunks only to customers, adversely affects the right to dignity, bodily autonomy and safety of women — particularly travellers, pregnant women, caregivers with children and daily commuters — who may not be 'customers' in the conventional sense but are nevertheless in urgent need of such essential facilities. The petition also urged HC to consider the issue in the broader context of public interest, especially in relation to gender and human rights dimensions. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The #1 Mistake Tinnitus Sufferers Make Every Night (I Did It for Years) Derila Ergo Undo Meanwhile, during the previous hearing on Aug 5, HC directed major petroleum companies, Indian Oil Corporation Ltd (IOCL), Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL), to file counter-affidavits detailing whether the dealership agreements mandate that washrooms at petrol retail outlets be made available to the general public. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and s ilver prices in your area.
Time of India
21 minutes ago
- Time of India
'Global issues of mutual interest': Amid Donald Trump's tariff pressure, Lula calls PM Modi - here's what they discussed
NEW DELHI: Prime Minister Narendra Modi and Brazil President Luiz Inácio Lula da Silva spoke on phone on Thursday amid ongoing tariff tensions from the US. The two leaders exchanged views on various "regional and global issues of mutual interest. " Both the nations face 50% tariffs from the US. "Had a good conversation with President Lula. Thanked him for making my visit to Brazil memorable and meaningful. We are committed to deepening our Strategic Partnership including in trade, energy, tech, defence, health and more. A strong, people-centric partnership between Global South nations benefits everyone," PM Modi said in a post on X. According to an official statement, PM Modi "recalled his visit to Brazil last month during which the two leaders agreed on a framework to strengthen cooperation in trade, technology, energy, defence, agriculture, health and people-to-people ties." "Building on these discussions, they reiterated their commitment to take India-Brazil Strategic Partnership to new heights. The two leaders exchanged views on various regional and global issues of mutual interest," it said. This comes a day after Lula said that he would speak to PM Modi and Chinese President Xi Jinping, as he refused to call Trump to negotiate. 'I will call him, I will call Xi Jinping, I will call Prime Minister Modi. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Godrej Riverine 4BHK + S Homes start from ₹7.99 Cr* at Sector 44, Noida Golf Course Godrej Properties Get Quote Undo I just won't call Putin, because Putin can't travel right now,' he had said. The Brazilian president has firmly said that his government would pursue all available options, including taking the issue to the World Trade Organization, to oppose Trump's 50% tariff on its exports. PM Modi's talks with Lula have taken on new significance in light of additional 25% tariffs imposed on Indian goods. The tariffs, linked to a stalled trade deal and India's continued imports of Russian oil, have drawn sharp criticism from New Delhi, which has called the move "unjustified" and reaffirmed its commitment to buying Russian crude.
