India – September 20, 2024 – India’s electric vehicle (EV) market is poised for significant growth in 2024, with several new models set to launch. The government’s push for electric mobility, decreasing battery costs, and growing consumer demand are driving this surge.
New Launches:
- Maruti eVX: Expected late 2024, priced around Rs 22 lakh
- Hyundai Kona Electric: Second-gen model, priced around Rs 25 lakh
- Tata Punch EV: January 2024, priced at Rs 12 lakh
- Tata Curvv EV: March 2024, priced at Rs 20 lakh
Market Trends:
- Increasing affordability: Battery costs down 40% since 2020
- Government incentives: FAME II scheme extended until 2025
- Charging infrastructure expansion: 20,000+ public chargers by 2025
Industry Experts:
“India’s EV market is at an inflection point,” said Rajiv Bajaj, Industry Analyst. “2024 will be a breakout year for electric vehicles.”
Consumer Benefits:
- Lower operating costs: EVs 50% cheaper than petrol cars
- Environmental benefits: Reduced emissions, improved air quality
Conclusion:
India’s electric vehicle revolution is gaining momentum. With new models, growing infrastructure, and government support, 2024 promises to be an exciting year for EV adoption.
Source:
1) Society of Manufacturers of Electric Vehicles (SMEV)
2) International Energy Agency (IEA)