EV Sales Soar Past 11.3 Lakh Despite Halved Subsidies: CEEW Report Reveals Major Shift

• India's electric vehicle (EV) sales surpassed 11.3 lakh units, setting a new record despite subsidies being halved under the PM e-Drive scheme.
• A CEEW report indicates EV sales under PM e-Drive are 3.4 times higher annually than FAME-2, signaling a significant auto sector transformation.
• The EV market share reached 7.49% by 2024-25, with total sales growing from 2,000 units in 2014-15 to 19.6 lakh units.
• Over 11.5 lakh EV two-wheelers were sold by 2024-25, showing a shift from e-rickshaw dominance to broader EV adoption.
• High-income states like Delhi, Goa, and Karnataka are leading in EV adoption, with commercial 4-wheelers and buses also seeing growth.

Why It Matters: EV sales in India are booming, surpassing 11.3 lakh units, proving independent market growth despite reduced subsidies.