Tesla, China's BYD, Vietnam's VinFast all have plans for the Indian market. Incentives for Tesla are under discussion, but BYD, the bigger carmaker, has found the going tougher.
Calculations by HSBC Research show overall carbon emissions are lower in hybrids compared to electrics. India's electric mobility plan is currently focussed on battery electrics. But as global examples show, there are challenges to wider adoption of EVs in India.
Highlighting the "repercussions of a sudden subsidy reduction", Tarun Mehta said that the electric two-wheeler industry lost one year of growth in 2023.
With its strategic location and favourable business environment, Gujarat has emerged as the "preferred destination for Tesla’s manufacturing plans"., Companies News, Times Now
Electric Vehicles In India: Electric vehicle (EV) adoption in India has been on the rise, with sales growing by 82% in March 2023 compared to the previous year. Overall sales increased by 157% from FY2022 to FY2023. The electric two-wheeler market is seeing significant growth, with over 1 lakh EVs sold every month in H2 FY2023.