The Increased EV Sales in India and Latin America!
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Russia‘s invasion of Ukraine has dominated recent headlines, considering the impact of the war on the automobile and transportation sector.
Electric vehicles are gaining ground in Latin America, albeit slowly, with luxury-car customers driving the increase. Passenger EV sales have nearly quadrupled virtually every year since 2016, and are expected to do so again in 2021.
Brazil, the region’s largest country, accounts for over half of the region’s fledgling EV industry. Last year, electric vehicles accounted for only 0.7% of total regional auto sales, with growth varying greatly by country. In comparison to China, Europe, and the United States, which are the world’s largest EV markets, this is a minor percentage. Nonetheless, gradual regulatory improvements, better economics, new models, and expanding public-charging infrastructure suggest that Latin America will develop rapidly through 2025.
Based on recent sales momentum and the regulatory environment, we predict that electric car sales in the region’s two main markets, Brazil and Mexico, will rise to 4–6 percent of total passenger car sales by 2025.
In India, where the car market is beginning to recover from the epidemic, a similar pattern is unfolding.
Electric vehicles accounted for nearly 15,000 of the 3.1 million passenger vehicles sold in 2021, representing a 200 percent increase over the previous year.
The increase in the number of high-speed two-wheelers, which accounted for almost 12.2 million sales last year, is the most anticipated development.
With about 150,000 electric scooters delivered in 2021 and many more already planned for 2022, electric variations from Hero Electric, Okinawa, Ather Energy, Ampere, and a few others are beginning to take a substantial chunk out of this industry.
Transport is a local phenomenon, unlike the global car industry, which is made up of thousands of closely interrelated enterprises. The electrification of the automobile industry will take decades and progress at various rates in different nations. There will also be vehicle kinds that electrify at a considerably greater rate in some areas than in others.
These latest sales figures for markets that are far from being at the forefront of EV adoption give us hope that things are definitely beginning to move in a positive way.