From ICE to EV: Traditional Players Navigating Change The rapid shift towards Electric Mobility has compelled the traditional Indian automotive industry to shift gears and embrace EVs. From personal vehicles, including two-wheelers and cars, to public transportation options, such as three-wheelers and buses, although the pace of EV adoption has varied across the segments, there is a clear trend towards greener, more sustainable transportation solutions. This transition presents a unique landscape where traditional Internal Combustion Engine (ICE) vehicles continue to…

Cabinet approves PM E-Drive scheme with outlay of INR 10,900 Crore In a significant move towards promoting electric mobility, the Indian government has launched the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-Drive) scheme. This initiative, managed by the Ministry of Heavy Industries, marks a crucial step forward from the expiring FAME scheme and aims to accelerate the adoption of electric vehicles (EVs) across various segments. Policy Timeline: Budgetary Outlay and Coverage: With a budget of INR 10,900…

EV Sales in India increased by 21% in H1 2024 Electric vehicle (EV) sales in India reached an impressive 9,27,097 units in H12024 (Jan-Jun-24), with the E2W and E3W passenger segments leading the charge, accounting for 89.13% of the total sales. Sales have increased by 20.73% in H12024 compared to H12023 EV sales. Fig 1: EV sales trend in India in H12024 Vs. CY2023 In terms of leading players’ market share, following trends are seen: Table 1: Comparison of EV OEM…

EV Sales surge by 42% in FY2024 to clock 1.67 million units EV sales in India increased 42% year on year (YoY) in FY2024, with 1.67 million units registered. The e-car segment registered maximum YoY growth of 90%. Riding on the booming logistics and e-commerce sector, as well as favourable cost economics, the E3W cargo segment saw an 82% rise in sales. Further, even with the limited models in the e-cars segment in India, the sector was able to achieve…