2022 has been an exciting year for the Indian EV market. Hence it makes sense to take stock of things are
of these on road. Among all the vehicle segments, this segment has really leaped forward with respect to electrification. The electric share of three-wheeler market stood at 54% in 2022 up from 43% in 2021.We can expect the momentum towards electrification to continue in 2023, albeit at a slow pace. Bajaj Auto, which hasand whose brand is synonymous with three-wheelers, is yet to come out with an electric variant. Additionally, a significant share of the market is made of CNG variants.
Government owned ones include both municipal and within city urban transportation ones and long distance intra-city travel. Overall this segment accounts for 20% of total commercial vehicle sales in India. Majority of the electrification is happening in the municipal/city transportation segment.
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