Abstract:

The report examines India’s electric vehicle (EV) transition, highlighting notable growth in EV sales from 50,000 in 2016 to about 2.08 million in 2024 but notes that EVs still account for only 7.6 % of total vehicle sales, far short of the 30 % target for 2030. India has made stronger progress in two- and three-wheelers, while electric cars, buses, and trucks lag behind. It identifies key challenges such as limited charging infrastructure, financing constraints (especially for buses and trucks), regulatory gaps, and low awareness among stakeholders. To accelerate adoption, the report recommends shifting from incentives to mandates, focusing on specific vehicle segments and geographic saturation, enabling finance solutions, scaling charging networks, boosting R&D in batteries, and improving data and awareness to support evidence-based policymaking