Make In India

Electric Mobility Sector Overview

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India’s Electric Mobility sector, valued at ₹3.5 trillion in 2023-24, is a key pillar of sustainable development. The sector supports decarbonization efforts, reducing dependence on fossil fuels and boosting green energy adoption.

Why Invest in the Electric Mobility Sector

  • Market Growth: India targets 30% EV penetration in private vehicles by 2030.
  • Government Push: Incentives under schemes like FAME II and PLI for EV components.
  • Rising Demand: Increasing consumer preference for eco-friendly vehicles.

Incentives & Schemes

  • FAME II: ₹10,000 crore allocated for EV adoption and infrastructure.
  • PLI Scheme: ₹18,100 crore to promote advanced cell chemistry battery manufacturing.
  • State EV Policies: Over 20 states offer subsidies, tax exemptions, and incentives for EV buyers and manufacturers.

Highlights

  • EV Sales Growth: EV sales grew 155% in FY 2023.
  • Charging Network Expansion: Over 6,000 public EV chargers installed nationwide.
  • FDI Opportunities: Open market for 100% FDI in EV manufacturing.

Electric Mobility Sector Data

Category Details
Market Size (2023-24) ₹3.5 trillion
EV Sales (2023) 1.15 million units
FAME II Allocation ₹10,000 crore
PLI Scheme for Batteries ₹18,100 crore
Charging Stations (2023) 6,000+ public chargers installed
Battery Production Targe 50 GWh capacity by 2030
EV Export Growth CAGR of 13% (2023-2030)
State EV Policies Over 20 states have incentives for EVs
EV Penetration Target (2030 30% private vehicles, 80% two-wheelers
Sector Employment Over 1 million jobs created by 2030

Latest Figures and Progress

  • Sales Growth: EV sales grew 155% in FY 2023, reaching 1.15 million units.
  • Charging Infrastructure: Over 6,000 public charging stations installed in 2023.

India’s Electric Mobility sector is accelerating toward a greener future, driven by policy support, innovation, and rising consumer demand.