Electric vehicle registrations rise 17 per cent in FY25: SIAM

Electric vehicle registrations in India surged by 17% to 1.97 million units in FY25, fueled by government initiatives and new model introductions. Electric passenger vehicle registrations surpassed 1 lakh units, marking an 18% increase.

New Delhi: Electric vehicle registrations in the country increased 17 per cent to 19.7 lakh units last fiscal driven by various government policy interventions and new model launches, industry body SIAM said on Tuesday. Total electric vehicle (EV) registrations in the country reached 1.97 million units in FY25 against 1.68 million units in FY2023-24, posting a growth of 17 per cent. Electric passenger vehicle registrations crossed 1 lakh units last fiscal, registering a growth of 18 per cent compared to the previous year, the Society of Indian Automobile Manufacturers (SIAM) said in a statement. Registration of electric-two wheelers grew by 21 per cent to 11.5 lakh units last fiscal, it added. Besides, registration of all types of e-three wheelers grew by 10.5 per cent in FY25 to around 7 lakh units.

Recent policy interventions from the government, including the Electric Mobility Promotion Scheme (EMPS) from April 1, 2024, to September 30, 2024, followed by the PM E-DRIVE and PM-eBus Sewa schemes, coupled with EV launches by several manufacturers have provided the necessary momentum for the adoption of electric vehicles in the country, SIAM said.