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in 2022, 19 countries had passed what’s become a critical EV tipping point.
5% seems to be the inflection point at which most technologies get ready for mass adoption.
The time it takes to get to that level varies widely by country. But once the universal challenges of car costs, charger availability and driver skepticism are solved for the few, the masses soon follow.
According to a Bloomberg analysis, in 2022, 19 countries had passed what’s become a critical EV tipping point. Since then, five more countries have made the leap.
India is the third largest auto market after China and the US. EVs made up 3% of new car sales in the country in the June quarter of 2023, after doubling in just six months.
So, the country seems to be at a tipping point for EV adoption.
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