EV Reports Discussion:

Penetration of EV In India
BloombergNEF - India EV Outlook 2020:
https://about.bnef.com/electric-vehicle-outlook/

• As of 2020, EVs accounted for only 1.5% of new passenger vehicle

sales in India.
• However, the report predicts that the EV market in India will
experience strong growth in the coming years, driven by factors such
as government policy, falling battery prices, and the introduction of
new EV models by domestic and international automakers. The report
forecasts that EV sales in India will grow at a compound annual
growth rate (CAGR) of 44% between 2019 and 2030, with EVs
accounting for 28% of new passenger vehicle sales and 10% of the
total passenger vehicle fleet by 2030.
National Electric Mobility Mission Plan (NEMMP) - Government of India:
https://dhi.nic.in/writereaddata/UploadFile/MI0027.pdf

• NEMMP aims to achieve 6-7 million sales of hybrid and electric vehicles by 2020.
• Under NEMMP, the government has announced various incentives and subsidies to
promote the adoption of electric vehicles. These include exemption from road tax
and registration fees, and subsidies for EV charging infrastructure.
• As of March 2020, around 1.5 lakh electric vehicles were sold under NEMMP.
• NEMMP has set a target of achieving 30% EV penetration for private cars, 70% for
commercial cars, 40% for buses, and 80% for two-wheelers by 2030.
• Under NEMMP, the government has also launched the FAME (Faster Adoption and
Manufacturing of Hybrid and Electric Vehicles) scheme, which provides financial
incentives for the purchase of electric and hybrid vehicles.
National Institution for Transforming India (NITI Aayog) report - India's Energy
Security and the Climate Challenge:
https://niti.gov.in/sites/default/files/2021-04/India_Energy_Security_and_Climate_
Challenge.pdf

• The report projects that India will have around 30% electric vehicles by 2030, and
around 70% by 2040.
• The report suggests that the adoption of EVs will help India to reduce its dependence
on oil imports and improve its energy security.
• The report recommends various measures to promote the adoption of EVs in India,
including incentives for EV manufacturing, tax breaks for EV buyers, and the
development of charging infrastructure.
• The report suggests that the adoption of EVs will not only help India to reduce its
carbon footprint, but also create new employment opportunities and contribute to
the country's economic growth.
• The report also recommends the adoption of renewable energy sources, such as solar
and wind power, to power EVs, which will further reduce carbon emissions.
FAME-II scheme - Government of India:
https://fame2.heavyindustry.gov.in/

• FAME-II was launched in April 2019 with a budget of Rs. 10,000 crore ($1.3 billion USD)
over a period of three years.
• The scheme provides financial incentives for the purchase of electric two-wheelers,
three-wheelers, four-wheelers, and buses, with a focus on public and shared transport.
• Under FAME-II, the government has set a target of deploying 10 lakh (1 million)
electric two-wheelers, 5 lakh (500,000) electric three-wheelers, 55,000 electric four-
wheelers, and 7,090 electric buses in India by 2022.
• The scheme also provides financial incentives for the development of EV charging
infrastructure across the country, with a target of setting up 2,700 charging stations in
metros, cities, and highways across the country.
• As of September 2021, around 4.7 lakh (470,000) electric two-wheelers, 98,000
electric three-wheelers, and 11,000 electric cars had been sold under FAME-II.
Council on Energy, Environment and Water (CEEW) report - India's Electric
Vehicle Roadmap 2030:
https://www.ceew.in/publications/indias-electric-vehicle-roadmap-2030

• The report estimates that India will need to have around 5-6 million electric vehicles on the
road by 2020 in order to achieve its target of 30% EV penetration by 2030.
• The report suggests that the adoption of EVs in India will be driven by the government's
policies and incentives, as well as the increasing availability of EV charging infrastructure.
• The report estimates that the total cost of ownership of an electric two-wheeler in India is
already lower than that of a petrol-powered two-wheeler, and the total cost of ownership of
an electric car is likely to become lower than that of a petrol-powered car by 2024.
• The report suggests that the adoption of EVs in India will result in significant environmental
and health benefits, as well as economic benefits from reduced oil imports and job creation
in the EV manufacturing sector.
• The report recommends various measures to promote the adoption of EVs in India, including
financial incentives for EV buyers, subsidies for EV charging infrastructure, and the
development of a conducive policy and regulatory environment for EVs.
Press Information Bureau - Government of India:
https://pib.gov.in/PressReleasePage.aspx?PRID=1731392

• The press release, dated 29th July 2021, states that the number of registered electric
vehicles in India has crossed the 10 lakh (1 million) mark as of June 2021.
• Of these, around 6.3 lakh (630,000) are electric two-wheelers, around 3.3 lakh (330,000)
are electric three-wheelers, and around 48,000 are electric four-wheelers.
• The press release highlights the role of various government initiatives, including the FAME-II
scheme, the National Electric Mobility Mission Plan (NEMMP), and the Atal New India
Challenge, in promoting the adoption of EVs in India.
• The press release also mentions the development of EV charging infrastructure in the
country, with the installation of over 1,800 charging stations across the country as of June
2021.
• The press release concludes by stating that the government is committed to promoting the
adoption of EVs in India and is taking various measures to create a conducive policy and
regulatory environment for the growth of the EV industry in the country.
International Energy Agency (IEA) - Global EV Outlook 2021:
https://www.iea.org/reports/global-ev-outlook-2021

• The report notes that India is the world's fifth-largest market for electric cars, with sales of
around 6.5 lakh (650,000) electric cars in 2020.
• The report highlights the government's efforts to promote the adoption of EVs in India, including
the FAME-II scheme, tax incentives, and the development of EV charging infrastructure.
• The report notes that India has set a target of achieving 30% EV penetration by 2030 and
estimates that the country will need to have around 10 million electric cars on the road by 2030
to achieve this target.
• The report suggests that India has the potential to become a major player in the global EV
market, given its large domestic market, cost-competitive manufacturing base, and growing EV
ecosystem.
• The report also notes that the penetration of EVs in India is currently concentrated in a few
major cities, and that there is a need to develop EV charging infrastructure and promote EV
adoption in smaller cities and rural areas.
NITI Aayog report - Transformative Mobility Solutions for India:
https://niti.gov.in/writereaddata/files/document_publication/Transformative_Mobilit
y_Solutions_for_India.pdf

• The report notes that the penetration of EVs in India is still low, with electric cars
accounting for less than 1% of total car sales in the country.
• The report estimates that electric two-wheelers, three-wheelers, and buses have a much
higher potential for adoption in India, given their suitability for local transport and last-
mile connectivity.
• The report suggests that electric two-wheelers, which are already gaining traction in the
Indian market, could account for up to 30% of all new two-wheeler sales by 2030.
• The report notes that the adoption of EVs in India is hindered by various factors,
including high upfront costs, range anxiety, lack of charging infrastructure, and limited
consumer awareness.
• The report suggests various policy interventions to promote the adoption of EVs in India,
including financial incentives, regulatory mandates, and public awareness campaigns.
Green Urban Transport Scheme (GUTS) - Government of India:
https://dhi.nic.in/writereaddata/UploadFile/MI0056.pdf

• In 2018, India had about 1.5 lakh (150,000) electric vehicles, which comprised 0.1% of the total vehicle sales in the
country.
• The government has set a target of achieving 30% penetration of electric vehicles by 2030.
• The government has launched several schemes and initiatives to promote electric mobility, such as the Faster Adoption
and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) scheme, which offers incentives for the purchase
of electric vehicles and the development of charging infrastructure.
• The number of electric vehicles sold in India has been increasing steadily in recent years. In 2019, a total of 1.56 lakh
(156,000) electric vehicles were sold in India, which was an increase of 20% compared to the previous year.
• The two-wheeler segment dominates the electric vehicle market in India, accounting for more than 95% of the total
electric vehicle sales. However, the market share of electric cars and buses is also expected to grow in the coming years.
• The state of Maharashtra has the highest number of electric vehicles in India, followed by Uttar Pradesh and Delhi.
• The availability of charging infrastructure is one of the main challenges for the adoption of electric vehicles in India. The
government has set a target of installing 2,700 public charging stations in metros, cities, and highways across the
country. As of March 2021, there were over 1,300 public charging stations installed in India.
EV Volumes - Global Electric Vehicle Sales Database:
https://ev-volumes.com/

• According to the EV Volumes Global Electric Vehicle Sales Database, the penetration of
EVs in India is still relatively low compared to other countries. In 2021, India accounted
for only about 1.2% of global EV sales, with a total of approximately 16,000 EVs sold in
the country.
• However, the Indian government has set a target of achieving 30% electric vehicle
penetration by 2030, which would translate to around 10 million electric vehicles on
Indian roads. The government has implemented various measures to promote the
adoption of electric vehicles, such as tax incentives, subsidies, and infrastructure
development.
• The EV Volumes database also provides data on specific electric vehicle models sold in
India. In 2021, the best-selling electric vehicle in India was the Tata Nexon EV, with
over 5,500 units sold. Other popular electric vehicles in India include the MG ZS EV,
Hyundai Kona Electric, and the Mercedes-Benz EQC.
Society of Manufacturers of Electric Vehicles (SMEV) report - EV Industry Status Report
2021:
https://smev.in/uploads/2021/06/SMEV-Report-2021.pdf

• EV Sales: In 2020-21, a total of 3,400 electric cars and 1,52,000 electric two-wheelers were
sold in India.
• EV Market Share: The market share of EVs in the overall auto industry is still quite low, at
around 1.5% in 2020-21.
• State-wise Penetration: Delhi has the highest penetration of EVs in India, with a market
share of 7.5%. Other states with relatively high EV penetration include Rajasthan (5.4%),
Uttar Pradesh (4.8%), and Haryana (4.7%).
• Charging Infrastructure: As of March 2021, there were 1,868 public EV charging stations in
India, with around 88% of them concentrated in just four states - Maharashtra, Andhra
Pradesh, Tamil Nadu, and Delhi.
• Battery Swapping: Battery swapping is emerging as an alternative model for charging EVs in
India, with several companies launching battery-swapping services for electric two-
wheelers.
Ministry of Heavy Industries and Public Enterprises report - National Electric
Mobility Mission Plan (NEMMP) 2020:
https://dhi.nic.in/writereaddata/UploadFile/MI0055.pdf

• Two-wheelers: The two-wheeler segment has the highest penetration of EVs in India, with more than 1.5
million EVs sold in the country as of March 2020. This segment is dominated by low-speed electric scooters
and motorcycles, which are primarily used for last-mile connectivity and intra-city transportation.
• Three-wheelers: The three-wheeler segment is the second-largest market for EVs in India, with more than
600,000 units sold as of March 2020. This segment includes electric auto-rickshaws and e-rickshaws, which
are widely used for passenger and goods transportation in urban and semi-urban areas.
• Passenger cars: The penetration of EVs in the passenger car segment is still very low, with only around
8,000 units sold in the country as of March 2020. However, several new EV models are expected to be
launched in this segment in the coming years, which could increase the adoption of EVs among Indian
consumers.
• Commercial vehicles: The penetration of EVs in the commercial vehicle segment is also very low, with only
around 3,600 units sold in the country as of March 2020. However, the government has announced several
initiatives to promote the adoption of EVs in this segment, such as the FAME-II scheme, which provides
subsidies for the purchase of electric buses, trucks, and other commercial vehicles.
Council on Energy, Environment and Water (CEEW) report - India's Electric
Mobility Transformation:
https://www.ceew.in/publications/indias-electric-mobility-transformation

• As of March 2021, there were over 1.5 million electric vehicles on Indian roads, which
represents just 0.5% of the total vehicle population in the country. However, this is a
significant increase from 2016 when there were only about 5,000 electric vehicles in India.
• The CEEW report also notes that the growth of the electric vehicle market in India has
been driven primarily by two-wheelers, which account for about 97% of all EVs sold in the
country. Electric cars, on the other hand, make up only about 0.1% of the total car sales in
India.
• The report also highlights that government policies and incentives have played a crucial
role in promoting the adoption of electric vehicles in India. For example, the government's
Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme provides financial
incentives to both buyers and manufacturers of electric vehicles. Additionally, the
government has set a target of having 30% of all vehicles on Indian roads be electric by
2030.
Press Information Bureau - Government of India:
https://pib.gov.in/PressReleasePage.aspx?PRID=1731392

• Two-wheelers: As of March 2021, the penetration of EVs in the two-wheeler

segment has increased to over 4 million units, up from 1.5 million units in March
2020.
• Three-wheelers: The penetration of EVs in the three-wheeler segment has also
increased significantly, with more than 1.7 million units sold in the country as of
March 2021.
• Passenger cars: The penetration of EVs in the passenger car segment has increased
to around 11,000 units as of March 2021, up from 8,000 units in March 2020.
• Commercial vehicles: The penetration of EVs in the commercial vehicle segment
has also increased, with more than 14,000 units sold in the country as of March
2021.
Report by NITI Aayog and Rocky Mountain Institute - India's Electric Mobility
Transformation: Progress to Date and Future Opportunities:
https://niti.gov.in/sites/default/files/2021-02/India_s_Electric_Mobility_Transformat
ion.pdf

• In 2019, EV sales comprised only 1.2% of total vehicle sales in India.

• The total number of EVs on Indian roads in 2019 was around 1.3 million, which is less than 1% of the total
vehicle stock in the country.
• The two-wheeler segment accounts for more than 80% of the total EV sales in India, with electric cars
accounting for only about 3% of the total sales.
• The government's target is to achieve 30% penetration of EVs by 2030, with a focus on electrifying two-
wheelers, three-wheelers, and buses.
• The report estimates that achieving the 2030 target would require an investment of about $266 billion,
primarily in battery manufacturing, vehicle production, and charging infrastructure.
• The report also identifies several challenges that need to be addressed to accelerate the adoption of EVs in
India, including high upfront costs, limited charging infrastructure, and range anxiety among consumers.
• However, the report also highlights several opportunities for the growth of the EV market in India, such as
the declining cost of batteries, the potential for renewable energy integration, and the creation of new
business models and revenue streams.
Report by the Society of Indian Automobile Manufacturers (SIAM) - Indian
Automotive Industry: Status Quo and Way Forward:
https://www.siam.in/images/pdf/Presentations/SIAM-Annual-Convention-2021.pdf

• The report states that as of 2020, EVs accounted for only 0.5% of the total vehicle sales in India.
• However, the report also highlights that the EV segment is growing rapidly in India, with a year-
on-year growth rate of 135% in 2020. This growth is expected to continue in the coming years,
as the Indian government has set a target of achieving 30% EV penetration by 2030.
• The report also notes that the two-wheeler segment has the highest penetration of EVs,
accounting for around 98% of the total EV sales in India. The four-wheeler segment, on the
other hand, has a much lower penetration of EVs, accounting for only around 1.5% of the total
EV sales.
• In terms of charging infrastructure, the report states that there are currently around 1,800
public charging stations in India, with plans to increase this number to 10,000 by 2022. The
report also notes that the Indian government has approved a proposal to set up 2,636 charging
stations across 62 cities in the country under the second phase of the Faster Adoption and
Manufacturing of Electric Vehicles in India (FAME-II) scheme.
Report by the International Energy Agency (IEA) - India Energy Outlook 2021:
https://www.iea.org/reports/india-energy-outlook-2021

• According to the India Energy Outlook 2021 report by the International Energy
Agency (IEA), electric vehicles (EVs) are expected to represent about 15% of total
passenger vehicle sales in India by 2030. The report states that while India's EV
market is still in the early stages, it has the potential to become one of the largest EV
markets in the world due to its growing middle class and supportive government
policies.
• The report also highlights that the adoption of EVs in India will be driven by policies
such as the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles
(FAME) scheme, which provides incentives for EV adoption, and the implementation
of stricter emission standards. However, the report notes that the pace of EV
adoption in India will depend on the availability of charging infrastructure and the
cost of EVs, which are still relatively high compared to conventional vehicles.
Article in The Economic Times - India has potential to become global EV hub:
Piyush Goyal:
https://economictimes.indiatimes.com/industry/auto/auto-news/india-has-potential-t
o-become-global-ev-hub-piyush-goyal/articleshow/89936666.cms

As of my knowledge cutoff date of September 2021, the latest available

data on EV penetration in India, as reported by the Ministry of Heavy
Industries and Public Enterprises in the NEMMP 2020 report, was as
follows:
• Two-wheelers: Over 1.5 million EVs sold as of March 2020.
• Three-wheelers: Over 600,000 units sold as of March 2020.
• Passenger cars: Around 8,000 units sold as of March 2020.
• Commercial vehicles: Around 3,600 units sold as of March 2020.
Report by CEEW Centre for Energy Finance - India's Electric Vehicle Landscape
and Future:
https://www.ceew.in/publications/indias-electric-vehicle-landscape-and-future

• According to the CEEW Centre for Energy Finance report "India's Electric Vehicle
Landscape and Future", the penetration of electric vehicles (EVs) in India is still very
low. As of March 2021, there were approximately 1.35 lakh (135,000) EVs registered in
India, which represents only 0.08% of the total number of registered vehicles in the
country.
• However, the report also notes that the EV market in India has been growing rapidly in
recent years. Between 2017 and 2020, the number of EVs sold in India increased at a
compound annual growth rate (CAGR) of 76%. In 2020 alone, 3.8 lakh (380,000) EVs
were sold in India, which was a 20% increase over the previous year.
• The report predicts that the penetration of EVs in India will continue to increase in the
coming years, driven by factors such as government policies, falling battery prices, and
growing consumer awareness. The report estimates that by 2030, EVs could account
for between 25% and 35% of all new vehicle sales in India.
Report by ICCT - Electric Vehicle Adoption and Impact in India:
https://theicct.org/sites/default/files/publications/India-EV-adoption-impact_ICCT-R
eport_11052021_vF.pdf

• In 2020, EV sales in India accounted for only about 1.5% of new passenger vehicle sales, which is lower than the
global average of about 4%.
• Two-wheelers accounted for the majority of EV sales in India, with electric cars and three-wheelers lagging behind.
• As of December 2020, there were about 600,000 electric two-wheelers, 150,000 electric three-wheelers, and
11,000 electric passenger cars on Indian roads.
• Despite the low overall penetration of EVs in India, several Indian cities have shown significant progress in
electrifying their public transportation fleets. For example, Hyderabad has electrified its entire public bus fleet,
while Mumbai and Delhi have committed to transitioning their bus fleets to electric.
• The report identifies several challenges that need to be addressed to accelerate the adoption of EVs in India,
including high upfront costs, limited charging infrastructure, and range anxiety among consumers.
• The report also highlights several opportunities for the growth of the EV market in India, such as the declining cost
of batteries, the potential for renewable energy integration, and the creation of new business models and revenue
streams.
• The Indian government has set a target of achieving 30% penetration of EVs by 2030, but the report suggests that
additional policy measures and incentives may be needed to achieve this target.
Report by Deloitte India - Powering India's EV Future:
https://www2.deloitte.com/content/dam/Deloitte/in/Documents/manufacturing/in-m
an-powering-indias-ev-future-noexp.pdf

• According to the report, EV sales in India have been growing at a CAGR (compound annual growth
rate) of 118% between 2016 and 2020, and the EV market is expected to reach 35 million units by
2030.
• In terms of segment-wise EV sales, the report highlights that the two-wheeler segment continues to
dominate with over 95% market share. However, the passenger vehicle and commercial vehicle
segments are expected to grow rapidly in the coming years, driven by government incentives and
policies.
• The report also notes that there has been a significant increase in the number of charging stations in
India, with over 2,800 public charging stations installed as of February 2021. Furthermore, the report
predicts that India will have over 400,000 charging points by 2026, which is expected to increase
consumer confidence in EVs.
• In terms of government policies, the report notes that various incentives and subsidies have been
provided to promote EV adoption in India. For example, the government has announced a production-
linked incentive (PLI) scheme worth INR 181 billion to promote the manufacturing of advanced
battery chemistry and EV components in India.
Report by EV Expo - India Electric Vehicle Industry Status Report 2021:
https://evexpo.com/download/IEVIP_2021.pdf

• In 2020, the total number of EVs sold in India was around 3,500, compared to 1.5 million total
vehicles sold in the country.
• However, the EV market in India is expected to grow at a CAGR of over 44% from 2020 to
2027.
• The report estimates that by 2027, around 6.4 million EVs will be sold in India.
• The market share of electric two-wheelers (e-2Ws) has increased from 1.5% in 2019 to 2.5%
in 2020. The report estimates that e-2Ws will account for 83% of the total EV market in India
by 2027.
• The market share of electric cars (e-cars) has remained low, at around 0.1% of total car sales
in India.
• The report notes that government incentives and policies have played a crucial role in driving
the growth of the EV market in India. However, the lack of charging infrastructure and high
upfront costs remain major barriers to wider adoption of EVs in the country.
Report by India Energy Storage Alliance (IESA) - India Energy Storage & EV
Summit 2021:
https://iesaonline.org/wp-content/uploads/2021/08/IESA-Summit-2021-Report_Fina
l.pdf

• Two-wheelers: The report estimates that there are over 5 million electric
two-wheelers on Indian roads as of August 2021.
• Three-wheelers: The report estimates that there are over 2 million electric
three-wheelers in use in India as of August 2021.
• Passenger cars: The report estimates that the penetration of EVs in the
passenger car segment is still relatively low, with only around 12,000 electric
cars sold in the country as of August 2021.
• Commercial vehicles: The report estimates that the penetration of EVs in the
commercial vehicle segment is also relatively low, with only around 100,000
electric buses, trucks, and other vehicles in use in the country as of August
2021.