Latest news with #FAMEIII
Hans India
3 days ago
- Automotive
- Hans India
EV sales in India set to cross 7% market share by FY28
Mumbai: The electric car sales penetration in India is expected to rise rapidly and cross 7 per cent by FY28, subject to timely resolution of rare earth element (REE) disruption, backed by new model launches and government push for improving the charging infrastructure in the country, according to a new report on Wednesday, as US EV giant Tesla finally entered 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, representing a nearly 21 times increase, according to the CareEdge Advisory report. 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. The Indian government has committed to achieving 30 per cent EV penetration by FY30 and is taking an active role in enabling this transition. Initiatives such as FAME III, the 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, the report noted. '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,' said Tanvi Shah, Senior Director and Head, CareEdge Advisory & Research. Charging infrastructure, historically one of the most significant bottlenecks in India's electric vehicle (EV) adoption journey, is now witnessing unprecedented growth. The report said that over the past three years, the number of Public EV Charging Stations (EVPCS) in India has grown nearly 5x, from 5,151 in CY22 to over 26,000 by early FY25, translating into a robust CAGR of more than 72 per cent.
Time of India
4 days ago
- Automotive
- Time of India
EV car sales penetration in India may cross 7% by FY28: CareEdge Report
Electric car sales in India are projected to surpass 7 per cent of total passenger vehicle sales by FY28, according to CareEdge Advisory, as reported by PTI . The forecast is contingent on the timely resolution of global supply disruptions in rare earth elements (REEs) and the continued rollout of new models and charging infrastructure. The report highlights that India's electric car segment, though still small in comparison to two- and three-wheeler electric vehicles, has seen significant growth—from just over 5,000 units in FY21 to more than 1.07 lakh units in FY25. EV infrastructure, a game changer? CareEdge noted that public and private efforts to expand EV infrastructure and reduce battery dependence on imports will be crucial for maintaining momentum. 'India is well-positioned to accelerate EV adoption, supported by model launches, improved charging facilities, and battery localisation under the PLI scheme,' said Tanvi Shah, Senior Director & Head, CareEdge Advisory & Research. Public charging points have expanded fivefold in three years—from 5,151 in CY22 to over 26,000 by early FY25—helping address one of the key challenges to wider EV acceptance. Policy incentives such as the FAME III scheme and customs duty exemptions on key battery minerals are also expected to play a role in reducing production costs and supporting domestic supply chains. While challenges remain in terms of affordability and infrastructure uniformity, the report suggests that with the right policy and industry measures, electric four-wheelers are on a path to stronger adoption in India's evolving vehicle landscape.
Time of India
4 days ago
- Automotive
- Time of India
EV trajectory: Electric car sales may cross 7% penetration by FY28, says CareEdge report; hinges on rare earth supply, infrastructure
Electric car sales in India are projected to cross 7% of total car sales by FY28, provided supply chain disruptions in rare earth elements (REEs) are resolved in a timely manner, according to a report by CareEdge Advisory. The projection is backed by an accelerating pipeline of new model launches, expanding charging infrastructure, and battery localisation efforts under the government's production-linked incentive (PLI) scheme. '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,' said Tanvi Shah, Senior Director & Head, CareEdge Advisory & Research, PTI quoted. The report notes that the electric car ecosystem in India has grown rapidly in the past three years — from just over 5,000 units in FY21 to more than 1.07 lakh units in FY25. While electric two- and three-wheelers continue to dominate EV sales in volume, the four-wheeler segment is entering a high-growth phase, supported by favourable policy and strong private sector investment. Charging infrastructure — one of the main bottlenecks in EV adoption — is now seeing strong momentum. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Dubai villas | search ads Get Deals Undo The number of public EV charging stations in India rose from 5,151 in CY22 to over 26,000 by early FY25. Further policy support under FAME III, exemptions in basic customs duty for battery-critical minerals such as cobalt and lithium-ion waste, and the ACC PLI scheme are expected to reduce vehicle costs and enhance domestic battery production capabilities. CareEdge believes these developments will be instrumental in placing India firmly on the path of sustained EV adoption over the coming years. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
4 days ago
- Automotive
- Business Standard
Electric car sales penetration to cross 7% by FY28: CareEdge Advisory
Electric car sales penetration 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. "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. 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. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
4 days ago
- Automotive
- Time of India
EV car sales penetration in India to cross 7% by FY28, says CareEdge
Electric car sales penetration 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.
