New Delhi [India]: Around 35 lakh more electric vehicles (EVs) are expected to replace petrol vehicles during 2027-2030, helping India save nearly Rs 1 lakh crore in crude oil import bills if EVs account for 20 per cent of the vehicle market by 2030, according to a report by the State Bank of India (SBI).
The report said EV adoption has accelerated significantly following the onset of the West Asia conflict in February 2026, with registrations witnessing a sharp rise.
