India seeks to attain a 30 per cent share of electric vehicles, in the total vehicles sold, by 2030. Sale of electric vehicles in India went up from 50,000 in 2016 to 2.08 million in 2024.
NITI Aayog today launched the report on ‘Unlocking a $200 Billion Opportunity: Electric Vehicles in India,’ which presents a timely and comprehensive assessment of current challenges while highlighting major unlocks essential to accelerate India’s Electric Mobility transition.
The report was released by Rajiv Gauba, Member, NITI Aayog in presence of B V R Subrahmanyam, CEO, NITI Aayog, Kamran Rizvi, Secretary, ministry of heavy industries, O P Agarwal, Distinguished Fellow, NITI Aayog and Sudhendu Sinha, Programme Director – E-Mobility, NITI Aayog among other dignitaries.
India seeks to attain a 30 per cent share of electric vehicles, in the total vehicles sold, by 2030. Sale of electric vehicles in India went up from 50,000 in 2016 to 2.08 million in 2024 as against global electric vehicle sales having risen from 918,000 in 2016 to 18.78 million in 2024. Thus, India’s transition has been slow to start, but it is picking up.
India’s electric vehicle penetration was only about one-fifth of the global penetration in 2020, but has picked up to over two-fifth of the global penetration in 2024. It continues to show an increasing trend, though relatively slow. This calls for measures to give a stronger push to the electric vehicle transition.
Developed through extensive stakeholder consultations across seven dedicated convenings held at NITI Aayog, this report has come out with multiple approaches to accelerate India’s electric vehicles transition. To kickstart the entire effort of accelerating the adoption of electric vehicles, some actions have been recommended as the immediate next steps in the report.
The report serves as a blueprint for accelerating India’s electric vehicle transition. It identifies key barriers, strategic unlocks, and actionable recommendations to accelerate electric vehicle adoption. By enabling data-driven decisions and cross-sector collaboration, it supports a unified national push.
Launching the report, Rajiv Gauba, Member, NITI Aayog, said that, “India stands at the cusp of a transformative shift in clean mobility. As the nation advances its Electric Mobility ambition, this report provides valuable insights and policy-aligned recommendations to overcome existing barriers and unlock scale.
BVR Subrahmanyam, CEO, NITI Aayog, added that “NITI Aayog has already been at the forefront of enabling the ongoing electric vehicle revolution. This report offers a timely and comprehensive review of current challenges, alongside actionable recommendations to fast-track the electric vehicle transition in India”.
