2022 Indian EV Market Share — Start Of The S Curve Evolution

of these on road. Among all the vehicle segments, this segment has really leaped forward with respect to electrification. The electric share of three-wheeler market stood at 54% in 2022 up from 43% in 2021.We can expect the momentum towards electrification to continue in 2023, albeit at a slow pace. Bajaj Auto, which hasand whose brand is synonymous with three-wheelers, is yet to come out with an electric variant. Additionally, a significant share of the market is made of CNG variants.

Government owned ones include both municipal and within city urban transportation ones and long distance intra-city travel. Overall this segment accounts for 20% of total commercial vehicle sales in India. Majority of the electrification is happening in the municipal/city transportation segment.

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