Delhi Leads India's Electric Revolution: EV Adoption Soars

India's embrace of electric vehicles is accelerating, with Delhi taking the lead at an 11.5% EV penetration rate. A report stresses the need for collaborative efforts and policy renewal to meet the country's 2030 sustainability goals, highlighting significant growth in electric two-wheelers and three-wheelers.

The adoption of electric vehicles (EVs) in India is witnessing a remarkable upsurge, with Delhi taking center stage as the leader in EV penetration, a recent report by FICCI and Yes Bank reveals. According to the report, Delhi has achieved an 11.5% EV penetration rate, largely due to its integration across multiple vehicle segments.

Trailing closely are Kerala with an 11.1% penetration rate and Assam at 10.0%, where the rise of electric two-wheelers and three-wheelers has been particularly notable. Additionally, states like Gujarat, Odisha, Kerala, and Punjab have recorded the highest compound annual growth rates in EV sales from FY21 to FY24, underscoring the significance of inter-state collaboration and knowledge sharing of successful strategies.

The report highlights that the top five states accounted for more than half of the EV volumes in FY24, indicating a positive trend in the spread of EV sales over the past four years. It underscores the vital role states play in propelling India's EV transition as part of its broader net-zero objectives. To meet national targets by 2030, the report urges a doubling of the current EV penetration rate, calling upon states to extend their EV policies until 2030 and mandate EV integration into public transport and fleet operations.

Amid the approaching expiration of many state EV policies, the report underscores the importance of a stable and long-term policy environment to attract investments and hasten EV adoption. It presents a strategic roadmap for bridging the gap between ambition and implementation, offering practical recommendations to enhance Zero Emission Vehicle (ZEV) penetration nationwide.

The report emphasizes supporting industry growth and charging infrastructure through sustainable fiscal measures, establishing robust institutional frameworks, and fostering central-state collaboration to accelerate ZEV adoption. As EVs become a vital component of India's sustainability agenda, the report highlights the need for ambitious targets, timely execution, and cohesive efforts to steer the nation towards a zero-emission future. (ANI)

(With inputs from agencies.)