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EVINDIA

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Market Growth and Projections: - India’s EV market is projected to reach USD 54.41 billion in 2025, growing at a CAGR of 19.44% to USD 110.74 billion by 2029. The market revenue is expected to hit USD 69.22 billion by 2033, with a CAGR of 21.40% from 2023 to 2033. - EV sales accounted for 5.8% of total automobile sales (5.69 million units) in Q3 2024, with over 4.64 million registered EVs in India. - Passenger EV production in 2024 increased by 22.5% year-over-year to approximately 125,500 units, with projections of 1.33 million units by 2030, representing 20% of total passenger vehicle production.

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