Total sales of electric two-wheelers reached 11.49 lakh units in FY 2024-25, up 21% from 9.49 lakh units sold in FY 2023-24. Electric three-wheeler sales hit 1.59 lakh units, a 57% rise from 1.02 lakh units the previous year.
The PM E-DRIVE scheme, with a budget of ₹
10,900 crore, runs for two years until March 2026. It includes sales from the Electric Mobility Promotion Scheme (EMPS) 2024, which ran from April 1 to September 30, 2024.
The MHI introduced the PM E-DRIVE scheme in September 2024 to promote green mobility and EV manufacturing. Union Minister for Heavy Industries & Steel, HD Kumaraswamy, highlighted that over one million EVs were sold, crediting schemes like FAME, EMPS, and PM E-DRIVE. He linked this to Prime Minister Narendra Modi’s goal of a cleaner, self-reliant India.
The scheme has saved 8.56 lakh litres of fuel daily and cut CO2 emissions by 12.48 lakh kg per day. Overall, it has saved 157.73 crore litres of fuel and reduced CO2 by 230.17 crore kg. It aims to address pollution and fuel security while creating jobs in manufacturing and infrastructure.
Under the Production Linked Incentive (PLI) Auto Scheme, 18 Original Equipment Manufacturers (OEMs) have applied, supporting EV growth and manufacturing. India’s e-mobility sector is growing due to government policies, technology, and environmental priorities, supporting the Net Zero target by 2070.
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