New Delhi, Apr 26 (KNN) India has dethroned China to become the world's largest market for electric three-wheelers, according to a recent report by the International Energy Agency (IEA).

The report reveals that in 2023, India witnessed a remarkable sale of over 5,80,000 electric three-wheelers, outpacing China's figures.

This achievement underscores India's rapid strides in embracing electric vehicles (EVs), fuelled by growing domestic demand and favorable government policies.

Globally, the IEA anticipates electric car sales to soar to approximately 17 million units in 2024, commanding over one-fifth of the total car market share.

Aarti Khosla, Director at Climate Trends, hailed India's feat, stating, “India's emergence as the leader in electric three-wheeler sales is a significant accomplishment. These vehicles are crucial for decarbonising last-mile connectivity and intra-city small cargo transportation.”

Khosla attributed the trend to declining prices and consistent policy support, which have brought electric three-wheelers closer to cost parity with their gasoline-powered counterparts.

Amit Bhatt, India Managing Director at the International Council on Clean Transportation, emphasised the broader implications, noting, “The electrification of transportation is gaining traction in India, spearheaded by the surge in two- and three-wheeler sales. However, extending this transition to trucks will be imperative for India to attain its ambitious net-zero emissions targets.”

The IEA report underscored the pivotal role of initiatives like India's Production Linked Incentives (PLI) scheme in bolstering domestic manufacturing capabilities and accelerating the adoption of electric vehicles.

As the global automotive industry pivots towards sustainability, India's newfound dominance in the electric three-wheeler segment positions the country as a potential pacesetter in shaping the future trajectory of eco-friendly transportation solutions.

(KNN Bureau)