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Indian EV Market 2024

More than 4.1 Million EVs have been sold to date in India.

Year Total vehicles
2020 1,76,202
2021 1,48,382
2022 4,90,697
2023 12,48,866
2024 17,52,406

Ministry of Housing and Urban Affairs (MoHUA) recommends that 20% of all parking spaces be equipped with EV charging

Electric 2Ws grew by 28.8% YOY in FY24. Ola, Ather, TVS, and Bajaj Auto have a combined market share of 78%

Electric cars grew by 81.9% YOY in FY24. Tata, MG, and Mahindra have a combined market share of 90%

According to NITI Ayog, India could realize EV sales penetration of 30% of private cars, 70% of commercial cars, and 80% of 2&3 wheelers by 2030