World EV Day: Over 50% of 3-wheelers, about 5% of 2-wheelers, and 2% of cars bought in 2024 are EVs

As the world marks World EV Day, India's progress in adopting electric vehicles (EVs) is commendable. However, there remains significant room for growth. Data from the government’s Vaahan Dashboard highlights an increasing trend towards green mobility solutions, with notable penetration in the three-wheeler segment. In 2024, 53.61% of new three-wheeler vehicles sold were electric, making it the leading category in EV adoption. The two-wheeler segment also saw promising growth, with electric vehicles accounting for 4.97% of sales, signalling potential for further expansion as consumers seek cost-effective and environmentally friendly alternatives. However, the four-wheeler segment has seen a slower uptake, with EVs making up only 2.14% of total car sales. However, government incentives and the increasing availability of EV models are expected to drive growth in this sector. Additionally, 3.20% of new buses sold this year were electric, underscoring the importance of sustainable public transport solutions in reducing emissions and promoting cleaner alternatives in mass transit.

On a state-wide level, Goa leads the country in EV penetration, with 14.20% of all new vehicles sold this year being electric, followed by Tripura and Chandigarh. Delhi also stands out with a 10.72% penetration, reflecting the capital's push towards sustainable urban mobility. In contrast, Himachal Pradesh reported the lowest EV penetration at just 1.09%. Across all segments, two-wheelers dominate the Indian EV market, accounting for 51% of total EV sales in 2024. According to the director of RMI, Ms. Samhita Shiledar, EVs provide a compelling solution for reducing air pollution, carbon emissions, and operating costs compared to internal combustion engine vehicles. While India's data reflects a promising shift towards electrification, there is still a long way to go to achieve widespread EV adoption across all vehicle segments.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.