JMK Research

India’s Electric Vehicle Sales crossed 2 million in CY2024 The future of mobility is electric, and India is riding the wave of the e-mobility revolution. As of 2024, the country boasts over 5.6 million Electric Vehicles (EVs). Electric vehicle sales in India have reached a historic milestone this year, crossing the 2 million mark for the first time. In 2023, total EV sales were ~1.6 million units; Excitingly, in 2024 that figure surged to over 2 million units, marking a…

From ICE to EV: Traditional Players Navigating Change The rapid shift towards Electric Mobility has compelled the traditional Indian automotive industry to shift gears and embrace EVs. From personal vehicles, including two-wheelers and cars, to public transportation options, such as three-wheelers and buses, although the pace of EV adoption has varied across the segments, there is a clear trend towards greener, more sustainable transportation solutions. This transition presents a unique landscape where traditional Internal Combustion Engine (ICE) vehicles continue to…