India's fuel demand may peak sooner than expected as EV adoption accelerates

India's fuel demand may peak sooner than expected as EV adoption accelerates

A man charges an electric vehicle (EV) at the charging hub of Indian ride-hailing BluSmart Electric Mobility in Gurugram, India, December 9, 2022. REUTERS/Anushree Fadnavis

The rapid take-up of electric vehicles in India’s fledgling market has prompted a major rethink about the country’s long-term fuel needs as refiners in Asia’s third-largest economy hasten their shift away from oil production.

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