Dec 27, 11:15 AM

India's Electric Vehicle Funding Falls from $934 Million to $586 Million in 2024 Amid Record Sales and Subsidy Cuts

India's electric vehicle (EV) sector has experienced a notable decline in funding, with total investments dropping from $934 million in 2022 to $586 million in 2024. This reduction in financial backing comes amid a broader trend of slowing EV funding in the country. Despite the decrease in funding, the EV market in India has reportedly achieved record sales in 2024, even as subsidies were cut. The current economic climate has also seen other sectors, such as cloud kitchens, showing signs of recovery, while challenges persist for startups in securing investments.

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