India's Electric Vehicle Market Achieves Remarkable Growth, Nears 2 Million Registrations
Union Minister HD Kumaraswamy revealed on Saturday that India's electric vehicle (EV) market has experienced an impressive annual growth rate exceeding 60% over the past six years. The latest data indicates that registrations for the financial year 2024-25 are approaching the significant milestone of 2 million units, showcasing a robust expansion in the sector.
Two-Wheelers Lead Mass Adoption, Other Segments Show Steady Progress
Speaking at an EV expo in Bengaluru, Kumaraswamy emphasized that two-wheelers continue to be the primary driver of mass adoption across the country. Meanwhile, electric passenger vehicles, buses, and commercial fleets are also expanding at a consistent and steady pace, contributing to the overall market dynamism.
The minister connected this growth to India's broader environmental goals, stating that the Net Zero 2070 target is being actively supported by the Make in India and Atmanirbhar Bharat initiatives. These programs aim to foster domestic manufacturing and self-reliance, creating a sustainable framework for the EV ecosystem.
FAME-II Scheme's Substantial Impact on EV Infrastructure
Kumaraswamy highlighted the critical role of the Rs 11,500-crore FAME-II (Faster Adoption and Manufacturing of Electric Vehicles) scheme in accelerating EV adoption. This initiative has provided support for over 16.7 lakh electric vehicles and sanctioned more than 9,000 public charging stations nationwide, significantly enhancing the infrastructure necessary for widespread EV use.
Future Mobility Trends and Karnataka's Strategic Position
Looking ahead, the minister predicted that mobility will increasingly be driven by connected and data-based systems, integrating advanced technologies into the transportation landscape. He specifically pointed out that Karnataka, with Bengaluru at its forefront, is exceptionally well-positioned to emerge as a global hub for electric mobility innovation and manufacturing.
This strategic advantage is expected to attract further investments and talent, solidifying India's role in the global EV market. The combination of rapid growth, supportive policies, and regional strengths paints a promising picture for the future of electric vehicles in the country.
