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MHI log sales of more than one million of EVs in FY 2024-25

By TIOL News Service

NEW DELHI, APR 02, 2025: THIS achievement marks a significant stride towards cleaner, greener, and more sustainable mobility, aligning with Hon'ble Prime Minister Narendra Modi's vision of Net Zero by 2070 and Aatmanirbhar Bharat.

India's e-mobility sector is gaining momentum, driven by government initiatives, technological advancements, and environmental concerns.

Overall, India's e-mobility sector is poised for significant growth, driven by supportive policies. The growth story of electric mobility is visible by numbers below:

In the Financial Year 2024-25, a total of 11,49,334 electric two-wheelers (e-2W) were sold, reflecting a 21% increase compared to 9,48,561 units sold in FY 2023-24. Similarly, the sales of electric three-wheelers e-3W (L5) reached 1,59,235 units in FY 2024-25, marking a 57% growth over the 1,01,581 units sold in the previous financial year.

The Ministry of Heavy Industries (MHI) has notified 'PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme' on 29.09.2024 to provide impetus to the green mobility & development of electric vehicle (EV) manufacturing eco-system in the country. The scheme has an outlay of Rs.10,900 crore over a period of two years upto 31.03.2026. The Electric Mobility Promotion Scheme (EMPS) 2024 implemented by MHI for the period of six months from 01.04.2024 to 30.09.2024, is subsumed in PM E-DRIVE scheme.

Under the PM E-DRIVE scheme in FY 2024-25, 10,10,101 nos of e-2W, 1,22,982 nos of e-3W(L5) have been registered in VAHAN portal . Sales of more than one million of EVs have taken place in this FY 2024-25.

Union Minister for Heavy Industries & Steel, H.D. Kumaraswamy, lauded this achievement and stated:

"Under the visionary leadership of Hon'ble Prime Minister Narendra Modi avaru, India is driving the global transition to sustainable mobility. The achievement of over 1 million EVs sales is a testament to the success of MHI's flagship schemes, including FAME, EMPS, and PM E-DRIVE. This milestone reaffirms our commitment to building a cleaner, greener, and self-reliant India."

The PM E-DRIVE Scheme, spearheaded by MHI, has played a pivotal role in accelerating electric vehicle adoption by offering financial incentives, promoting indigenous manufacturing, and strengthening the EV ecosystem. The scheme's impact Data till 31st March 2025 is reflected in the following key environmental benefits:

Fuel saving per day: 8,55,723 litres

Total fuel saved: 15,77,33,334 litres

CO2 reduction per day: 12,48,100 kg

Total CO2 reduction: 23,01,73,978 kg

This initiative by the Government of India is set to address critical challenges related to environmental pollution and fuel security while advancing sustainable transportation solutions. Through the promotion of electric vehicles (EVs) and supporting infrastructure, the scheme is expected to catalyse significant investment in the EV sector and its supply chain. Furthermore, it will generate substantial employment opportunities across the value chain, including jobs in manufacturing and charging infrastructure setup. Overall, this scheme represents a crucial step toward a cleaner, more sustainable future for transportation in India.

The Production Linked Incentive (PLI) Auto Scheme is transforming India's automotive sector by driving sustainable and advanced manufacturing. Under this initiative, 18 Original Equipment Manufacturers (OEMs) have applied, playing a crucial role in accelerating the electric mobility revolution and strengthening the nation's journey towards a self-reliant and future-ready automotive ecosystem.


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