India's EV potential: Auto expo highlights growing market

DW (English)

In 2024, at least 1.9 million electric vehicles (EVs) were registered in India, which marked a year-on-year growth of about 25%. Analysts believe India is only just warming up.

Transcript

00:00From two and three wheelers to cars and buses, a huge range of electric vehicles were on

00:06display at India's premier auto show, the Bharat Mobility Global Expo.

00:12Auto companies showed off dozens of new EVs at the expo and also offered discounts in

00:17a bid to ride the Indian EV wave.

00:20In 2024, at least 1.9 million EVs were registered in India, which marked a year-on-year growth

00:27of about 25 percent.

00:29Analysts believe India is only warming up.

00:33It is estimated that by 2030, India will become the largest EV market in the world.

00:39As per our EV forecast, by 2030 EVs will be 18.5 percent, you know, almost in cars.

00:47So overall in two wheelers we are talking about almost 30 to 40 percent EV penetration,

00:52you know, but in terms of cars, we really feel even 18, 18.5 percent will be a big number

00:58for India because if you talk about 18 percent, it's almost close to 1.4 million cars every

01:06year, electric vehicles, which is much more than the sales of actually most of the countries.

01:12Auto firms are planning to flood the market with even more EV models in 2025.

01:18Maruti Suzuki, India's largest car maker, has just launched its first electric car and

01:24has announced plans to become the country's largest EV maker within a year.

01:29Two and three wheelers are also seeing growth.

01:31Over half of all three wheelers and 5 percent of all two wheelers sold in 2024 were electric.

01:39Millions of EVs on the roads will need millions of charging stations as well.

01:43Right now, charging infrastructure in the country is only at a nascent stage, but there

01:48is heavy emphasis on expanding it.

01:51Charging infrastructure is not so robust, but means government has announced a few schemes

01:57around one month back, eDrive initiative, PM eDrive initiative, so means in that the

02:03charging infrastructure is growing, but means not growing at that pace because when I tell

02:08you that these are majorly focused inside the city only.

02:14Lot of highways are also electrified.

02:17There are chargers, but maybe chargers may be available after 100 kilometers or 200 kilometers.

02:24EVs have a key role to play in India's climate strategy.

02:28India aims to achieve net zero carbon emissions by 2070 and EVs can help the country in sprinting

02:35towards that goal.

02:37India imports about 80 percent of the crude oil that it needs and a large chunk of it

02:42goes to power the millions of petrol and diesel vehicles on the road.

02:46EVs could also help the country in cutting down its heavy fuel import costs.

02:52Many believe that 2025 could be a key year in this journey.

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