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Indian Electric Vehicles Market In 2027: The popularity of electric vehicles is continuously increasing in India and this pace may increase further in the coming years. According to the new report of rating agency India Ratings and Research (Ind-Ra), the share of electric vehicles in the country’s total vehicle sales can reach 10% to 12% in the financial year 2027. But for now, this figure was 8.5% in FY 2026. The report believes that the biggest contribution to this growth will be from electric two-wheelers.

Electric scooters and bikes will become engines of growth

According to Ind-Ra information, the share of electric two-wheelers may increase from 6.6% to 8% to 10% in FY27. The biggest reasons for this are low running cost compared to petrol vehicles, easy charging at home and new models being launched continuously in the market. Apart from this, people’s increasing trust in electric vehicles will also accelerate this change. At the same time, improvements in battery technology and charging facilities in the last few years have strengthened the confidence of customers, due to which the demand for electric scooters and bikes is expected to increase rapidly.

Sales of electric cars will also pick up pace

The report also states that the market for electric cars will also expand rapidly. While the share of EV cars was 4.4% in FY26, it is expected to reach 6% to 8% in FY27. The main reason for this is the launch of new electric models by auto companies in different budgets. In the coming months, many major vehicle manufacturers are preparing to introduce new electric cars from affordable to premium segments, due to which customers will have more options than before.

Long range EVs still face challenges

However, the report also shows that the pace of adoption of long distance electric vehicles is currently seen to be slow. This is due to their relatively high starting price, limited availability of charging infrastructure across the country and concerns about battery range during long journeys. Despite this, experts believe that as the charging network expands and new battery technology comes into the market, the impact of these challenges will reduce. If current trends continue, India’s EV market could be among the fastest growing markets in the world in the next few years.