EV sales may hit 10-12% in FY27

India's EV penetration is projected to reach 10-12% of total vehicle sales in FY27, up from 8.5% last year, according to ratings agency Ind-Ra. Two-wheeler EV penetration is estimated to rise to 8-10% in FY27 from 6.6% in the previous year, driven by lower operating costs and home-charging options.