New Delhi, Jan. 26 -- The electric vehicle (EV) penetration will increase in the next three years due to the introduction of more reliable models at competitive price points and the possible growth of the charging network, according to the Axis Capital report.

"We believe the launch of more credible models at attractive price points and potential expansion of the charging network will drive higher EV penetration over the next 3 years," the report added, which was conducted based on the analysis of Auto Expo 2025.

Axis Capital firm sees this growth fueled by an expanding portfolio of EV offerings that cater to a wider audience.

The report added that the Auto Expo 2025 was dominated by electric vehicle (EV) launches, with leading automot...