TOGG’s future is very bright, even the statistics are exciting

of india electric vehicle (EV) Significant growth is expected in the market. In 2024, a sales increase of 66% is predicted compared to 2023, and electric vehicles are expected to reach a 4% share in total passenger vehicle sales. In the long term, EVs are estimated to account for nearly a third of annual passenger vehicle sales in India by 2030.

in 2023 Tata Motorswas the leader in the EV market with a market share of 66%. However, Maruti Suzuki is planned to enter the EV market in 2025, and it is thought that this may negatively affect Tata’s dominance in the market. Additionally, Vietnam-based electric vehicle brand VinFast’s plans to establish a manufacturing facility in Tamil Nadu also show that India’s investment interest in the EV sector is increasing.

electric vehicle salesThe importance of increasing EV battery production to increase battery consumption is emphasized. Companies like Ola, Reliance New Energy and ACC Energy Storage are making significant investments in this field. These investments will further increase EV sales by reducing production costs.

TOGG’s future is very bright, even the statistics are exciting

The government of India also to the EV sector Advanced Chemistry Cells to attract investment (ACC) It has taken important steps such as initiatives such as the PLI scheme for 2017 and reductions in import duties for EVs under $35,000.

By 2023, EV sales have nearly doubled, while overall passenger vehicle sales have increased by 10% and EVs have captured 2% of the market. This trend is supported by factors such as increasing interest of urban consumers, government support, development of infrastructure and increasing awareness of climate change.

Mahindra & Mahindra’s
Thanks to the success of its electric SUV model XUV400, it experienced a 2476% increase in market share in 2023. Other brands like MG Motor and BYD have also shown successful performances and BYD has cemented its place among the top five EV brands in India.

These developments, automotive It shows that there is a shift towards sustainable and environmentally friendly technologies in the industry. This presents a positive outlook for the future of the EV market in India.