Electric cars in India surely present a promising future but it still has many challenges to face. The electric car market sales are moving forward at a snail's pace in India. The Electric Vehicle sales represent a total of just 2% of the total car sales in India in FY24. Despite a significant 91.37% year-on-year growth in electric car sales, the share of electric cars in the total PVs sold remains low at 2.3%.

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The global EV market has many brands competing with each other but for now, in India, there are only a few electric car brands and cars priced below Rs 20 lakh in India, such as the Tata Tiago EV, Tata Tigor EV, Tata Nexon EV, MG Comet EV, MG ZS EV, Citroen E-C3, and Mahindra XUV400 are even fewer. Maruti Suzuki and Hyundai have limited offerings in the electric car segment, with Hyundai expected to launch a new EV based on the Creta, priced over Rs 20 lakh.

Tata Motors leads the electric car market in India, with sales of 64,217 units in FY24, showing a growth of 65.82% YoY. On the other hand, BMW dominates the luxury EV space, with a significant 260.41% YoY sales increase in FY24.

It is reported that Experts believe that the electric car market in India will see significant growth once the EV market overcomes challenges such as overpricing, charging stations and more mass-segment electric cars become available. Thus it can be said that The development of more reasonably priced electric vehicles is necessary for the industry to grow and serve a larger number of customers.

The rapid expansion of public charging infrastructure is crucial for the growth of the electric car market in India. As of February 2024, there were 12,146 operational public EV charging stations across the country, highlighting the government's efforts to support the adoption of electric vehicles.

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