India EV sales to grow at 26 % in FY21-23: Fitch
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The recently announced electric vehicle (EV) incentives by India along with high fuel prices will be supporting factors for stronger adoption of EVs over 2020-2023, leading to an average annual growth rate of 26 per cent, Fitch Solutions said on Tuesday. However, it said the economic impact of Covid-19 pandemic and limited domestically produced EVs will prove a challenging barrier to overcome.
