Delhi leads EV adoption in nation with 11.5% penetration
Economic Times, 5 Dec '24
The adoption of electric vehicles (EVs) in India is accelerating, with Delhi emerging as the leader in EV penetration, according to a report by Federation of Indian Chambers of Commerce & Industry (FICCI).
The report noted that Delhi has achieved an EV penetration rate of 11.5%, driven by adoption across multiple vehicle segments.
Kerala closely follows with 11.1%, and Assam ranks third at 10.0%, where the use of electric two-wheelers (e2Ws) and three-wheelers (e3Ws) has been particularly significant.
Additionally, Gujarat, Odisha, Kerala, and Punjab recorded the highest compound annual growth rates (CAGR) in EV sales from FY21 to FY24. These trends underscore the importance of states collaborating and sharing successful strategies to advance EV adoption.
The report also revealed that the top five states accounted for more than half of the EV volumes in FY24, with EV sales becoming more geographically dispersed over the past four years.
It emphasised the critical role of states in India's EV transition as the nation strives to meet its net-zero goals.
To achieve national targets by 2030, the report recommended doubling the current EV penetration rate.
It urged states to renew their EV policies until 2030 and emphasised mandating EV adoption in public transport and fleet operations.
With several states' EV policies nearing expiration, the report highlighted the need to establish a stable and long-term policy environment to attract investors and accelerate EV adoption.
The report provided a roadmap to bridge the gap between ambition and execution, offering actionable recommendations to enhance Zero Emission Vehicle (ZEV) penetration across India.
Key recommendations include:
- Supporting industry development and charging infrastructure through sustainable fiscal measures.
- Establishing well-defined institutional mechanisms and focused policies.
- Fostering collaboration between central and state governments to expedite ZEV adoption.
As EVs become central to India's sustainability agenda, the report stressed the urgency of setting aggressive targets, ensuring timely implementation and fostering cohesive efforts to transition towards a zero-emission future.
