EV Subsidies End in Key Indian States, Raising Concerns Over Sales Momentum
Electric vehicle (EV) sales in India are facing potential headwinds as four major states—Maharashtra, Uttar Pradesh, Rajasthan, and Tamil Nadu—have exhausted their direct purchase incentives. These states collectively account for over a third of the nation’s EV demand, and the discontinuation of subsidies is expected to increase upfront costs for consumers, potentially slowing the industry’s…