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India EV Sales to Surge 4-Fold by FY30 to 12.7% Penetration: Nomura Forecasts Electric 2W & SUV Boom as Festive Retail Surges 89%
Global brokerage Nomura forecasts India’s electric vehicle sales to quadruple by FY30, reaching an overall market penetration of 12.7%, fueled by rapid adoption of electric two-wheelers, expanding charging networks, and festive demand surging 89%.