NEW DELHI--October 29, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--Over the years, the electric vehicle (EV) market in India has witnessed sizable growth, fueled by the rising focus toward carbon neutrality, innovations in technology and government support. With EV sales touching 1.62 million units in 2023 (up from 1.09 million in 2022), according to India Brand Equity Foundation, EV adoption in the country has been significant. This has driven further investments in incremental manufacturing capacity of EVs, enhancing charging infrastructure and advancing battery technology.

Industrial Info is tracking 179 active capital-spending projects, worth more than US$12 billion, aimed at EV manufacturing in India.