In the last one year, electric car registrations in India have quadrupled to around 3,000 a month. Globally, demand incentives have helped push sales of electric vehicles (EVs).
India offers a demand incentive of 16% of the average selling price for Tata Nexon EV, which is the best-selling electric car in India, according to a Goldman Sachs report.
China has been incentivising the transition to electric vehicles for nearly 15 years now, and that has helped it achieve a lead in pure battery EV sales.
The demand incentive is now being gradually scaled down.