India Overtakes China to Become Worlds Largest Electric 3 Wheeler Market
Sales of electric three-wheelers (e-3W) in India surpassed 580,000 units in 2023, compared to 320,000 vehicles sold in
PV Magazine International 5:44 am on May 5, 2024
India surpassed China to become the world's largest market for electric three-wheelers (e-3Ws) in 2021, selling over 58,000 units compared to China's 32,000 units. Nearly one in every five e-3Ws sold worldwide was in India. The report, "Global Electric Vehicle Outlook," credits the sales boost to Indian government subsidies under FAME II and cost reduction of electric 3Ws. The world saw almost 1 million electric 3Ws sold, a 30% increase from 2022. China accounted for 78% of global electric two-wheelers (e-2Ws) sales with 6 million units sold, followed by India with 88,000 units and ASEAN countries with 38,000 units.
- India overtook China as the largest market for electric three-wheelers (e-3Ws) in 2021.
- One in five e-3Ws sold worldwide were in India.
- Sales increase attributed to Indian government subsidies under FAME II and cost reduction of electric 3Ws.
- Almost 1 million electric 3Ws sold globally, a 30% increase from 2022.
- China accounted for the majority (78%) of global e-2W sales.
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