Indian EVs, which have seen considerable domestic uptake in recent years, have now begun to make strong headway in international markets. The segment reportedly witnessed a 2.5x growth in value terms in the first seven months of 2023. This demand was led primarily by Nepal and a few European nations, such as France and Germany, which have emerged as stable and growing export markets for Indian EVs.
How will domestic EV policies influence India’s small but emerging EV export market in the coming months?
Will EV exports mirror the trends previously observed in internal combustion engine vehicle (ICEV) exports? Which countries and vehicle categories will emerge as frontrunners?