14 lakh electric vehicles sold in 2024, says Kumaraswamy

NT Correspondent

Bengaluru: Union Minister for Heavy Industries, Steel and Public Enterprises HD Kumaraswamy disclosed that upwards of 14 lakh Electric Vehicles (EVs) had been sold in India in the past year. He made the comments at the Federation of Automobile Dealers Associations’ (FADA) 13th Auto Summit in New Delhi on Saturday. Kumaraswamy lauded the rise of electric vehicles with sales reaching 14,08,245 units in 2024, compared to 10,22,994 units in 2023.

“EV penetration now stands at 5.59 per cent,” he said. “This reflects growing public trust in EVs, driven by government incentives and industry innovation,” he added. He noted that Rs 25,938 crore had been allocated under the Production Linked Incentive (PLI) scheme, driving Rs 20,715 crore in investments and Rs 10,472 crore in incremental sales by September 2024.

Kumaraswamy noted that in 2024, India retailed 26.1 million vehicles, registering a 9 per cent year-on-year growth. “Despite global uncertainties, the Indian automotive industry continues to thrive, achieving remarkable milestones in both conventional and electric mobility,” Kumaraswamy said.