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14.06.24 14:17

Technology

Electric vehicle sales in India grow by 40 per cent in FY 2023-2024

This was on account of low operating costs and strong demand for logistics services

Sales of electric vehicles in India grew 40 per cent year-on-year to 17,52,406 units in FY 2023-2024. This is reported by IANS, a partner of TV BRICS.

Analysts said the figure increased mainly due to demand for two- and three-wheelers, which accounted for 94 per cent of total sales.

Sales of two-wheeled electric vehicles (electric motorbikes and others) rose 29 per cent year-on-year to 10,09,356 units. Sales of three-wheeled electric vehicles rose 56 per cent to 634,969 units.

According to analysts, low running costs and strong demand for logistics services are the key growth drivers in this segment.

Photo: iStock

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