The adoption of electric vehicles (EV) in India is poised to see a boost in adoption numbers driven by a rapidly expanding charging network, growth in battery swapping models and government policies such as the PM e-drive.
The respective sector demonstrated strong momentum in 2024, with total sales reaching nearly 1.95 million units across segments. Industry experts see this growth trajectory continuing into 2025, supported by expanding charging infrastructure, battery swapping networks and favorable government policies.
Alluding to the performance of the sector in 2024 ICRA Corporate Ratings Senior Vice President Srikumar Krishnamurthy said, “Electric vehicles in India continued to gain traction in 2024 supported by factors like government incentives, changing consumer needs new product launches, technological advancements, etc. Nevertheless, the EV penetration levels remain modest, particularly in cars and trucks, though adoption in two-wheelers and three-wheelers and buses is better. The government’s policy measures remain supportive; the PM e-drive scheme is expected to aid faster EV adoption apart from the development of the EV manufacturing ecosystem. While the transition is gradual, the EV sector holds promise as a cornerstone for sustainable mobility, with significant growth potential in the coming years."
According to data from Vahan Dashboard 19,48,957 EVs were sold between January and December 2024. Electric two-wheelers dominated the market with sales translating to 1.2 million units followed by the three-wheeler segment that sold 6,94,466 units. 
Meanwhile, the electric car segment continued to show steady progress with 99,848 units sold while the electric-bus sales experienced substantial growth increasing by 39% in CY2024, reaching 3,834 units. 
Ola Electric dominated the two-wheeler segment with a 35.42 percent market share followed by TVS (19.49 percent), Bajaj (16.58 percent), Ather (11.08 percent) and Hero (3.78 percent).
In the three-wheeler passenger segment, Mahindra Last Mile Mobility led with approximately 10 percent market share, while Bajaj Auto demonstrated exceptional growth. The three-wheeler cargo segment saw Mahindra LMM maintaining leadership with about 11 percent market share, while Bajaj Auto showed impressive growth to capture 4.7 percent market share. 
In the electric car segment, Tata Motors maintained dominance with roughly 62 percent market share, followed by MG Motor India at 22 percent, Mahindra & Mahindra (7 percent), BYD (2.85 percent), and PCA (2.19 percent), while in the electric bus segment, Tata Motors retained its leadership position with all major players showing significant sales growth.
2025 Outlook
Alluding to the sectoral outlook for 2025, Altigreen Propulsion Labs Chief Executive Officer Amitabh Sharan noted, “The electric vehicle industry in India stands at a transformative crossroads in 2025, with the market projected to reach USD 235 billion by 2030 at a remarkable CAGR of 49 percent. The sector will witness remarkable growth (especially in commercial vehicles) in 2025, driven by a combination of TCO benefits, technological advancements for better quality vehicles and driveability, and changing consumer perception towards EVs. However, the road to widespread EV adoption will need to overcome significant challenges viz-a-viz innovative vehicle financing, urban charging infrastructure, consistency in policy and regulatory framework, supply-chain localisation (for price parity with ICE) and very importantly skill development through industry-academia partnerships.”
Revfin Founder Sameer Aggarwal said, “2024 has been a defining year for India’s automotive sector, marked by accelerated adoption of electric vehicles, advancements in sustainability, and the integration of innovative technologies. Building on this momentum, 2025 is expected to be a year for EV adoption. With an intensified focus on developing robust EV charging infrastructure and scaling up battery-swapping networks, transitioning to electric mobility will become more seamless for consumers. Coupled with innovative financing models and targeted efforts to reach underserved markets, the industry is set to overcome accessibility barriers and make sustainable mobility a reality for all. Collaboration between automakers, policymakers, and technology providers will ensure a cohesive ecosystem, enabling India to lead the way in sustainable and inclusive mobility solutions.”
Godawari Electric Motors Director Hyder Ali Khan noted, “As we look ahead to 2025, we are excited about the robust expansion of our Eblu product portfolio, catering to the evolving needs of our customers. Additionally, we have some promising public and private orders in the pipeline, which will further accelerate our growth trajectory. We remain committed to driving innovation and sustainability in the EV sector and look forward to continued collaboration with our stakeholders to shape a cleaner and greener future for mobility.”
Zypp Electric Chief Executive Officer Akash Gupta revealed plans for 2025 along with the sector outlook and stated, “Looking ahead to 2025, Zypp Electric is committed to deploying 200,000 electric vehicles across the country in the next 12-18 months and we will double down on innovation, fleet expansion and partnerships to meet growing demand. We will focus on bolstering EV charging infrastructure, enhancing intelligent fleet management, and contributing to India's net-zero goals. Together, we aim to revolutionise last-mile logistics and make green mobility the norm for businesses and communities alike.”
On the components front, Automotive Component Manufacturers Association Director General Vinnie Mehta averred, “The Indian auto component industry is poised for robust double-digit growth in FY25, driven by strategic efforts to reduce import dependence and bolster exports. The electric vehicle component segment is witnessing remarkable year-on-year growth, propelled by the surging demand for sustainable mobility solutions. Key drivers include advancements in electric powertrains and battery systems, supported by increased investments in localization, R&D, and progressive government policies. These developments underscore the industry’s commitment to innovation, self-reliance, and establishing India as a prominent global manufacturing hub."
As India furthers its journey towards carbon neutrality within the mobility sector, EV adoption is slated to accelerate even in the luxury car segment. According to a news report citing Federation of Automobile Dealers Associations, the luxury EV market grew by 6.7 percent in 2024 despite decline in sales. 
BMW witnessed the highest sales followed by Mercedes Benz India, Volvo, Audi and Porsche. 

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Pune-headquartered electric vehicle manufacturer Kinetic EV has launched the upgraded DX and DX+ electric scooters, featuring a 3.1 kWh lithium iron phosphate (LFP) battery pack on the flagship DX+ variant.

The e-scooter incorporates electric powertrain updates and convenience features into the metal body structure of the original DX platform.

The DX+ 3.1 kWh variant features a 3.8 kW peak-power hub-mounted BLDC motor paired with the LFP battery, achieving an Indian Driving Cycle (IDC) certified range of up to 132 kilometres per charge. The e-scooter includes two riding modes – Range and Power – alongside the K-Coast energy regeneration system for power recovery during deceleration. The company claims it can be charged from zero to 80 percent in approximately three hours and features an integrated charging cable mechanism.

In terms of dimension, the Kinetic DX has 1,315 mm wheelbase, 165 mm ground clearance and 12-inch tubeless tyres at both ends. Braking is managed by a 220 mm front disc brake and a 130 mm rear drum brake. The e-scooter provides a 714 mm seat length, 37 litres of under-seat storage space, IP67-rated water and dust protection, park assist with reverse function and onboard telematics.

The Kinetic DX 3 kWh variant can be had for INR 118,599 and INR 127,650 for the Kinetic DX+ 3.1 kWh model, which includes the integrated charging cable and telematics package.

The DX+ is available in five colour options – Black, Silver, Blue, White and Red, while the standard DX comes in Black and Silver. Purchase promotions for the launch period include price reductions of up to INR 3,000, extended warranty packages, Amazon cashback and subsidy benefits under the PM E-DRIVE initiative.

Ajinkya Firodia, Managing Director and Vice-Chairman, Kinetic EV, said, "The DX has always stood for practicality, reliability and a design that connects with generations of Indian consumers. With the new 3.1 kWh LFP battery, we are taking that familiar experience a step forward by offering greater range, enhanced performance and greater confidence for everyday riding. The upgraded DX+ brings together the strengths of our iconic design with modern electric technology and thoughtful features, making the transition to electric mobility even more practical and appealing for Indian customers."

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Jio-bp has signed a Memorandum of Understanding (MoU) with electric vehicle leasing platform DRIVN to evaluate charging solutions for commercial electric vehicles across India.

The agreement focuses on developing charging infrastructure tailored to the operational requirements of electric buses and trucks along city routes and highway corridors.

The collaboration connects DRIVN’s vehicle leasing services with Jio-bp’s charging network. The partners will assess options to integrate charging location discovery into DRIVN’s platform, while evaluating preferential tariffs and turnkey charging projects for fleet operators. The initiative aligns with fleet requirements including route schedules, battery capacities, and operating patterns, supporting national fleet transition goals under India's PM E-DRIVE program.

Alpna Jain, Co-Founder and Chief Business Officer, DRIVN, said, "As commercial EVs become a larger part of fleet operations, charging infrastructure has to keep pace with where and how these vehicles are used. For buses and trucks, the location of a charger and the route it serves can directly affect operations. Our MoU with Jio-bp gives us an opportunity to address these requirements as we expand our commercial EV business and make charging infrastructure easier for fleet operators to find and use. This partnership is first of many and a decisive step towards building the ecosystem required to make electric mobility more scalable and commercially viable."

Sarthak Behuria, Chairman, Jio-bp, said, "India's transition to electric mobility is no longer a question, it is happening quickly. At the heart of this transformation are commercial fleets – buses and trucks that keep our people, cargo, and economy moving every day, often covering the longest distances and the toughest routes. At Jio-bp, we believe EV charging infrastructure is a critical part of national infrastructure and our partnership with DRIVN marks an important step towards building the charging backbone needed to cater to the demands of this transition."

Akshay Wadhwa, CEO, Jio-bp, added, "Jio-bp pulse has been built on a simple promise – accessible, reliable, high-uptime EV charging wherever needed. With DRIVN, we are further strengthening our focus on commercial fleets, which have distinct needs shaped by routes, battery capacities and operating patterns. This MoU lets us address those needs directly, while exploring practical charging and financing solutions for fleet operators. Together, we aim to make reliable charging more accessible for electric buses and trucks."

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CHARGEZONE, one of the leading electric vehicle charging solutions providers, has announced that it has secured long-term energy contracts valued at over USD 1 billion (approximately INR 105 billion) for EV charging across intercity buses, trucks and commercial car fleets.

The contracted demand will support the deployment of 1,000 charging stations along national highway corridors, adding 180 MW of capacity to bring the company's total network capacity from 120 MW to 300 MW.

The EV charging infrastructure expansion is anchored in commercial fleet requirements, where routes and charging frequencies provide demand visibility prior to station construction.

Once deployed, the expanded network is projected to support over 15,000 electric vehicles and 15,000 charging sessions daily. CHARGEZONE estimates the network will deliver approximately 700 GWh of energy annually and operate at an average network utilisation rate of 30 percent, compared to its current rate of 14 percent.

To fund the expansion, the company has obtained USD 25 million (INR 2.5 billion) in debt financing from Indian banks and plans to raise a further USD 100 million during 2026–2027. Capital allocation will cover supercharging stations, micro-grid infrastructure, energy-management software, and site integrations of solar power and battery energy storage systems (BESS).

Kartikey Hariyani, Founder & CEO, CHARGEZONE, said, “India's EV charging market is entering a phase where scale will be measured not only by how many chargers are deployed, but by how much energy is delivered and sold through them and how consistently those assets are utilised. With long-term demand contracted across buses, trucks and fleets, we can build new capacity against visible energy consumption rather than wait for demand to emerge after deployment. That improves the economics of every station and creates a stronger foundation for bringing long-term capital into charging infrastructure at scale.”

Manish Madhogaria, Chief Financial Officer, CHARGEZONE, said, “EV charging is a capital-intensive infrastructure business, so the quality and visibility of demand behind every asset becomes critical as the network scales. These long-term contracts give us greater visibility into future energy revenues and allow us to deploy capital more selectively against infrastructure with a clearer demand profile. As we raise the next pool of capital, our focus will be on building the right mix of debt and equity to fund this expansion while maintaining capital discipline.”

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German luxury automotive brand BMW India has launched the locally produced i5 Long Wheelbase (LWB) electric sedan, priced at INR 7.96 million ex-showroom.

The EV is produced at the BMW Group Plant Chennai and represents BMW’s first locally assembled electric sedan in the country. A First Edition variant, limited to 99 units featuring select interior trims and rear-seat tablet mounts, was offered at the same introductory price point and sold out prior to the official announcement.

The i5 Long Wheelbase measures 5,175 mm in length, 2,156 mm in width and 1,520 mm in height, with a 3,105 mm wheelbase.

On the outside, it features an illuminated contour surround for the front grille, adaptive LED headlights, flush-mounted door handles and 20-inch alloy wheels. The cabin incorporates a dual-tone vegan leather interior, a curved digital display combining a 12.3-inch instrument cluster and 14.9-inch control screen, four-zone climate control, a panoramic glass roof and a Bowers & Wilkins sound system.

The powertrain features a single electric motor outputting 268 hp and 410 Nm of torque, enabling zero to 100 kmph acceleration in 6.7 seconds and a top speed of 195 kmph. Powered by an 81.6 kWh gross capacity battery pack, the model records a range of up to 669 kilometres under MIDC testing protocols. Charging capabilities include up to 11 kW AC home charging via an included wallbox unit and up to 160 kW DC fast charging, which replenishes the battery from 10 to 80 percent in just 33 minutes.

The EV comes with standard adaptive rear-axle air suspension, variable driving modes, and driver assistance systems such as adaptive cruise control with stop-and-go functionality, automated parking assistance and collision warning systems.

BMW is offering a two-year unlimited-kilometre standard warranty, alongside an 8-year or 160,000-kilometre warranty covering the high-voltage battery.

Hardeep Singh Brar, President and CEO, BMW Group India, said, “The first-ever BMW i5 Long Wheelbase is more than a new model launch; it is a defining statement of our India strategy. As our first locally produced electric sedan, it brings together the two strongest pillars of our future growth: electrification and long wheelbase luxury. Purpose-built for the expectations of Indian customers, it showcases our growing local manufacturing capabilities while reinforcing BMW's leadership in sustainable mobility. With its commanding presence, cutting-edge electric technology and class-leading rear-seat comfort, the BMW i5 Long Wheelbase is equally rewarding to drive and to be driven in. It seamlessly combines signature BMW driving dynamics with first-class chauffeur-driven luxury, creating an experience unlike any other in its segment. The first-ever BMW i5 Long Wheelbase sets a new benchmark for the modern executive sedan and redefines what customers can expect from electric luxury mobility. We are not entering a segment; we are creating one.”

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