Electric vehicle sales in India crossed 14.08 lakh units in 2024: Union Minister H D Kumaraswamy

Electric conveyance income successful India crossed 14.08 lakh units successful 2024, achieving a marketplace penetration complaint of 5.59 per cent, up from 4.44 per cent successful the erstwhile year, Union Minister H D Kumaraswamy said connected Saturday.

The curate asserted that the upward inclination successful EV adoption underscores the increasing nationalist spot successful electrical vehicles, arsenic good arsenic the affirmative interaction of authorities incentives and manufacture innovation.

"Total EV income successful calendar twelvemonth 2024 reached 14,08,245 - a penetration of 5.59 per cent, up from 10,22,994 successful calendar twelvemonth 2023, which stood astatine 4.44 per cent," the curate for Heavy Industries and Steel said astatine a Federation of Automobile Dealers Association (FADA) lawsuit here.

He observed that contempt planetary uncertainties, the country's automotive assemblage has continued connected a maturation trajectory.

"In the calendar twelvemonth 2024, the manufacture collectively retailed 26.1 cardinal vehicles, marking a robust 9 per cent year-on-year increase," Kumaraswamy said.

Talking astir the Production Linked Incentive (PLI) strategy for the automobile and car components industry, with a budgetary outlay of Rs 25,938 crore, the curate said that retired of 115 applications, 82 person been approved, with an estimated concern of Rs 42,500 crore, incremental income of Rs 2,31,500 crore, and the imaginable to make 1.4 lakh jobs implicit 5 years.

"As of September 2024, we person already witnessed Rs 20,715 crore successful investments, alongside Rs 10,472 crore successful incremental sales," helium added.