At the CNBC'TV18's India Business Leader Awards (IBLA) Red Carpet, Tarun Garg, MD & CEO, Hyundai Motor India, spoke about the changing landscape of electric vehicles (EVs) in India and the country’s growing role in the global economy.

Garg said India has seen a “sudden change” in EV adoption this year after two years of stagnation. “If you see globally, people have been talking about the EV chasm happening. But if you see India, last two years, we were stuck at about two and a half percent penetration… But this year, what happened? Suddenly, the change happened. In August and September, we looked at almost 6% penetration,” he said.

He attributed this rise to the government’s push through the PME-Drive scheme. “The biggest enabler for EV adoption is that range anxiety which customers have

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