The ground under the personal mobility business is shifting and the shift is clearly in favour of electric vehicles. Depleting crude resources and growing global environmental concerns are driving this shift.
Globally around 2.1 million electric vehicles were sold in 2018, around 64% more than in 2017 and a little over half of this was sold in China. By all available estimates, China is widely expected to lead this change in the global EV sales in the foreseeable future.
Among the larger global markets for vehicles, the US and pockets of progressive countries in Europe accounted for the rest. Despite being a relatively large market for vehicles in the world and one of the biggest markets in Asia, India continues to be a non-starter for EVs.
The final tally for EV sales in India in 2018 is yet to be reported, but there is no major surprise expected on this front. In 2017, less than 60,000 EVs were sold in India — less than half of what China sells every month. Read More
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