"India overtook China in 2023 to become the biggest market for electric 3Ws, with over 580,000 sales," the IEA stated, reflecting India’s rapid adoption of electric vehicles in response to increasing domestic demand and supportive government policies.
This development highlights India’s growing influence in the global electric vehicle (EV) market, which continues to expand despite economic challenges. According to the IEA, global electric car sales are projected to reach about 17 million in 2024, capturing more than a fifth of the total car market share.
Aarti Khosla, Director, Climate Trends, commented on India’s leadership in the electric three-wheeler market. "India now leading the world in E3W sales is a major success story. The vehicles are essential to decarbonised last-mile connectivity and intra-city small goods deliveries," Khosla said. She noted the significance of falling prices and consistent government support, which are bringing these vehicles closer to price parity with internal combustion engine counterparts.
Amit Bhatt, India Managing Director, International Council on Clean Transportation, also weighed in on the broader implications of this shift. "The electrification of transportation is gaining momentum in India, with two- and three-wheelers leading the sales charge," Bhatt observed. He emphasized the importance of extending this transition to other vehicle sectors, including trucks, to meet India's ambitious net-zero targets.
The IEA report also points to significant investments and policy support, like India’s Production Linked Incentives (PLI) Scheme, which have been crucial in boosting domestic manufacturing capacities and adoption rates.
As India continues to lead in electric three-wheeler sales, the focus on sustainable transportation solutions appears set to reshape the future landscape of the global automotive market.
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