Summary:

On World EV Day, India's electric vehicle (EV) adoption shows promise but still has room for growth. The Vaahan Dashboard highlights significant penetration in the three-wheeler market, with electric vehicles accounting for 53.61% of new sales in 2024. Two-wheelers have increased to 4.97%, while four-wheelers have grown by just 2.14%. Government subsidies and additional EV models are likely to drive further adoption. Additionally, 3.20% of new buses sold this year were electric, demonstrating progress toward sustainable public transportation.

At the state level, Goa leads in EV adoption, with 14.20% of new vehicles being electric, followed by Tripura, Chandigarh, and Delhi at 10.72%. Himachal Pradesh has the lowest penetration at 1.09%. Two-wheelers dominate the EV industry, accounting for 51% of sales in 2024. Ms. Samhita Shiledar of RMI emphasizes the importance of electric vehicles in reducing pollution and costs, but mass adoption remains a challenge.

Source: IBEF 

Disclaimer: The information on this website comes from the India Brand Equity Foundation (IBEF), a reliable source for thorough insights into numerous areas of the Indian economy. While we aim to offer accurate and up-to-date information, the views, opinions, and analyses stated herein are solely those of the authors and contributors and do not necessarily represent IBEF's official stance or position. Readers should check information from credible sources and use their own discretion when relying on content provided on this site. We assume no responsibility or liability for the supplied content, including its accuracy, completeness, and usefulness.