2,75,833 electric vehicles were recorded in the state in fiscal year 2015 | Photo credit: Nirmal Harindran
Uttar Pradesh has the highest adoption rate of electric vehicles in the country, with 2,75,833 electric vehicles registered in the state in fiscal year 2015.
According to VAHAN, which tracks vehicle records, 11,67,720 electric vehicles were registered between April 1, 2024 and March 31, 2025.
According to the data, Maharashtra took second place with 1,00,801 registered electric vehicles, followed by Karnataka with 88,060, Tamil Nadu with 76,359 vehicles and 59,358 electric vehicles registered in Assam.
“In 2023, The Global Electric Vehicle Market Was Valued AT US $ 255.54 Billion. It is forecasted to reach Approximately 2024 TO FROM 2024 TO FROM 2024 TO 2024 TO 2024 FROM 2024 FROM) INP CENTA from) in the center of 2033. Notable increase in January 2025, with 19.4 percent month to month and 17.1 percent year -on -year growth, reaching 1,69,931 units, “according to Indian Brand Equity Foundation.
Increased penetration in fiscal year 26
It is expected that the penetration of the electric vehicle will increase even more in fiscal year 26 with new four -wheel vehicles launches.
The competition will boost the growth in the two -wheeled electrical segment with a growth of the industry volume to 25 percent in fiscal year 26 after crossing a million units in fiscal year 2025, backed by a broader distribution network and the availability of new models.
“Intensifying competition and the focus on participation in the capture market is seen stretching the equilibrium period of two electric players. Some players may take 2 to 3 years to reach the EBITDA balance in the Ebetidic current industry. Two -wheeled manufacturers that two -wheeled manufacturers have a large amount of ₹ 30000 scale in the prosecutor. Kulkarni, director, director of Crisil.
In addition, the increase in the penetration of the two -wheeled electrical industry in fiscal year 26 of fiscal year 26 will come from the manufacturers of original equipment (OEM) that will launch affordable models with small battery packages, with the initial cost differential with ice vehicles.
“It is expected that the Coast of Electric Vehicle Penetration (EV) segment will increase exponentially around the next five years, increased due to government support, the greatest awareness and increased product releases,” said the ICRA rating agency.
Posted on April 21, 2025