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World EV Day Special: Will EV sales in India hit 2 million units in FY2025?

Five months into FY2025, EV industry retails at 733,000 units are 43% of FY2024’s record 1.68 million units. If the 2- and 3-wheeler segments, which account for 94% of total sales, maintain the same momentum they have displayed in April-August 2024, the 2-million mark could be attained. A lot though depends on whether FAME III subsidy is enabled, OEMs rationalising EV prices with enhanced localisation and accelerated customer acceptance of e-mobility.

By Ajit Dalvi

09 Sep 2024

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World EV Day Special: Will EV sales in India hit 2 million units in FY2025?

Today – September 9, 2024 – is the fifth anniversary of World EV Day, the biggest electric mobility campaign of the year. It is a day which unites companies and individuals, policy makers and thought leaders, one which sees activations and announcements that help continue to propel the zero-emission movement worldwide in a time of unbridled climate change. It’s also reason to take a close look at how the EV industry is faring in India, which is one of the fastest-growing automotive markets globally.

Five months into FY2025, India EV Inc's retail sales of 732,893 units (up 19% ...