India is learning to love electric vehicles — but they're not cars
Publishing timestamp: 2023-01-09 05:10:34
Summary
India's electric vehicle market is dominated by two-wheel vehicles instead of four-wheel passenger cars. The Indian government has ambitious targets to increase EV adoption in the next decade, focusing on raising purchases of two-wheel vehicles. Sales in India are expected to rise by between 40% and 45% by 2030. To increase purchases of two-wheel vehicles, they need to be cheaper and more charging infrastructure needs to be in place. The government has been providing incentives to encourage consumers to make the switch to EVs, and companies like Tata Power have made early investments to increase the availability of chargers.
Sentiment: POSITIVE
Tickers: RIVN, TSLA, TATAPOWER-IN, NIO, XPEV,
Keywords: united states, tesla inc, electric vehicle manufacturing, environment, climate, china, james hong, electric vehicles, nio inc, tata power company ltd, xpeng inc, business news, asia economy, autos, rivian automotive inc, transportation, india,
Source: https://www.cnbc.com/2023/01/09/india-is-starting-to-love-electric-vehicles-with-two-wheels.html