India’s electric vehicle (EV) landscape is rapidly charging ahead. Between April and November 2024, the country saw a remarkable 25.64% surge in EV registrations, reaching 13.06 lakh compared to 10.39 lakh in the same period last year. The numbers were disclosed by Minister of State for Heavy Industries, Bhupathiraju Srinivasa Varma, in response to a Lok Sabha query.
“It’s a testament to the growing adoption of electric mobility in India,” Varma said, attributing the growth to the PM E-DRIVE scheme, which allocates ₹10,900 crore to accelerate EV adoption and infrastructure development.
Accelerating Electric Mobility
Under the PM E-DRIVE scheme, the government aims to bolster electric mobility with the introduction of 14,028 electric buses, 2,05,392 e-three-wheelers, 1,10,596 e-rickshaws and e-carts, and nearly 24.8 lakh e-two-wheelers by March 2026. Beyond vehicle incentives, the scheme supports the expansion of public charging infrastructure, upgrading testing facilities, and introducing innovative EV solutions like e-trucks and e-ambulances.
“The focus isn’t just on numbers,” Varma added. “Compliance with the Phased Manufacturing Programme ensures that components are sourced locally, aligning with the Make in India initiative and empowering medium and small enterprises (MSMEs).”
A Milestone in India’s EV Journey
This milestone comes as EV adoption becomes a cornerstone of India’s sustainable mobility goals. The scheme, launched to reduce dependency on fossil fuels and encourage green energy, reflects the government’s commitment to clean transportation.
The surge also coincides with a booming global EV market, positioning India as a key player in the race to net zero. “The numbers tell a powerful story,” said an industry expert. “India is not just adopting EVs; it’s setting the stage for a manufacturing revolution.”
Looking Ahead
As 2024 comes to a close, stakeholders are keenly observing how the scheme will shape the future. The phased approach ensures scalability, while incentives for innovation continue to attract private investment. The next two years could see India transforming into a global EV hub.
The PM E-DRIVE scheme’s results underscore the potential for India’s electric mobility ecosystem to thrive—not just in sales figures but also in fostering homegrown manufacturing and innovation.
EVs are no longer just vehicles; they’re a movement redefining India’s roads, industries, and future.
