EV Sales Soar In India, Slow In US

Darshak Pandya Pexels

EV sales have slowed in the US. Many people believe they are too expensive; some worry about the range and the number of charging stations. In other nations, however, EV sales have soared on a percentage basis. India is at the top of this list.

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According to Semafor, EV sales in India rose 39% in the first quarter. This outpaces China’s 37%. The figure for the US was only up 4%. Semafor noted, “BNEF projects, putting EVs on track to account for at least one-third of the global passenger vehicle fleet by 2035.”

These sales will be driven, in large part, by inexpensive Chinese EVs. While the US has tried to block their sales with tariffs as high as 100% and the EU with tariffs closer to 30%, Chinese EVs are sold in many other parts of the world. Experts say the EU tariffs need to be higher to undercut demand. Chinese EVs are sold for as little as $15,000 and often get good reviews for quality. 

US EV Adoption

US EV adoption may be driven more by American companies while keeping the Chinese out of the market. Tesla controlled 50% of the market last year, but several companies, including Ford, have posted rapid EV growth. 

India’s EV sales may be rising rapidly, but there is evidence other nations will join it.

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