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EV Market India: In India in the year 2025 Electric Vehicle (EV) The pace of adoption has received a tremendous boost. The active role of the Ministry of Heavy Industries (MHI), the PM e-Drive initiative and record investments under the PLI-Auto scheme have given new impetus to the EV sector. According to the official statement, an incentive amount of Rs 1,999.94 crore was given to companies under the PLI-Auto scheme in the year 2024-25.

Lakhs of EVs got incentives

According to government data, till December 31, 2025, more than 13.61 lakh electric vehicles were given incentives under the PLI-Auto scheme. This includes more than 10.42 lakh two-wheelers, more than 2.38 lakh three-wheelers, 79,540 electric cars and 1,391 electric buses. It is clear from this that concrete steps have been taken towards bringing EVs within the reach of common people.

PM e-Drive: The path to affordable EVs

Pradhan Mantri e-Drive Yojana was launched on 29 September 2024, for which the government fixed a budget of Rs 10,900 crore. The objective of this scheme is to promote EVs, develop charging infrastructure and create a strong infrastructure for EV manufacturing. Under the scheme, a subsidy of Rs 3,679 crore has been fixed, so that the purchase of more than 28 lakh electric vehicles can be encouraged. This includes 24.79 lakh two-wheelers, 3.28 lakh three-wheelers and 5,643 electric trucks.

Control pollution through e-buses

To reduce urban pollution, under the scheme worth Rs 4,391 crore, 14,028 electric buses will be introduced in public transport. Till December 31, 2025, Rs 1,703.32 crore has been released and more than 21.36 lakh EVs have been sold. Government company Convergence Energy Services Limited (CESL) has completed the tender process for 10,900 electric buses. In the first phase, these buses will run in Delhi, Ahmedabad, Surat, Hyderabad and Bengaluru.

Global market and India’s situation

According to consultancy firm Benchmark Mineral Intelligence, global EV sales are projected to grow 20% to 20.7 million units in 2025. For 2026, it is estimated that 23.9 million EVs will be sold worldwide (15.7% growth), growth in China may return to 21%, while in the US a decline of 29% is expected. India’s EV market is estimated to expand at a compound annual growth rate of 36%.

EV sector will be linked to Make in India

The government had notified a special scheme to promote electric car manufacturing on March 15, 2024. Under this, companies will have to invest at least Rs 4,150 crore in three years. This initiative ‘Make in India’ This will increase domestic construction and create new employment opportunities.