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Electric Vehicle Sales Surge 20% in 2024, Approaching 100,000 Units

share-iconWednesday, January 08 comment-icon3 weeks ago 10 views
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indiatimesINDIATIMES
Electric Vehicle Sales Surge 20% in 2024, Approaching 100,000 Units

Credited from: INDIATIMES

  • Sales Growth: In 2024, electric vehicle sales increased by 20%, nearing 100,000 units, compared to 82,688 units the prior year.
  • Market Share: EVs captured 2.4% of total auto retail numbers, up from 2.1% percent in 2023.
  • Tata Motors led the market with 61,496 units sold, despite a drop in market share from 73% to 62%.
  • JSW MG Motor experienced 125% growth, selling 21,484 units, bolstered by its innovative 'battery as a service' model.
  • Industry experts predict continued growth in 2025, driven by new launches from major players like Maruti Suzuki and Hyundai.

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Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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