Summary:

In January 2025, electric vehicle (EV) sales in India grew by 19.4% month-over-month and 17.1% year-over-year, reaching 1,69,931 units. Passenger vehicles and two-wheelers led the growth, while commercial vehicles and three-wheelers saw slower demand. Ola Electric, Tata Motors, and Mahindra & Mahindra reported strong sales, though some brands experienced declines. The reinstatement of incentives for electric freight three-wheelers further boosted sales, with 80,546 units sold since the scheme's launch.

The EV market is projected to grow at a 43% CAGR, reaching 9,32,000 units by 2030. Electric SUVs are expected to dominate, accounting for 61% of demand. Over 30-35 new product launches are anticipated this year. FADA forecasts significant market share growth across all segments. Government incentives, increasing consumer preference for sustainable mobility, and strong OEM commitments signal a promising future for EVs in India.

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.