40% of all vehicles sold will be electric by 2030

As much as 35 per cent to 40 per cent of all vehicles sold in the country across segments will be electric by 2030, up from a mere 2 per cent this year, says a Bain and Co report released today. This translates to 14-16 million new electric vehicles (EVs) selling in a year. The inflexion point, which is now being seen month on month in many segments (such as two-wheelers which hit around 4-5 per cent in December), will be more than visible in 2026, when 4-5 million EVs across segments are expected to be sold, accounting for 15-20 per cent of the total sales, says the report.