India’s EV Fleet To Grow Eight-Fold By 2030: PM Modi

New Delhi, Jan 18 (KNN) Prime Minister Narendra Modi announced on Friday that India’s electric vehicle (EV) fleet is projected to increase eight-fold by 2030, as the government focuses on developing a comprehensive mobility ecosystem. 

Speaking at the inauguration of the Bharat Mobility Global Expo, Modi highlighted the dramatic growth in EV adoption, noting that daily sales in 2024 now exceed the annual sales figures from a decade ago, with total sales surging from 2,600 units in 2014 to 1.68 million in 2024.

Infrastructure development remains a key priority for India’s mobility sector, with the recent budget allocating over Rs 11 lakh crore for this purpose. 

The country’s automotive sector has attracted substantial foreign investment, securing more than USD 36 billion in Foreign Direct Investment over the past four years, with Modi expressing confidence that this trend will continue as India strengthens its domestic auto manufacturing ecosystem.

The government’s commitment to electric mobility is evident through various initiatives, including the FAME-2 scheme, which has provided incentives worth over Rs 8,000 crore. 

These funds have been instrumental in subsidising EV purchases and establishing charging infrastructure, benefiting more than 1.6 million electric vehicles, including over 5,000 electric buses. 

The Production Linked Incentive (PLI) scheme has further bolstered the Make in India campaign, generating sales exceeding Rs 2.25 lakh crore and creating more than 150,000 direct jobs.

Looking ahead, the recently announced PM E-Drive scheme aims to support the acquisition of approximately 2.8 million electric vehicles, encompassing two-wheelers, three-wheelers, e-ambulances, and e-trucks. 

The initiative also includes plans to procure around 14,000 electric buses and install over 70,000 fast chargers nationwide. 

The announcement came during the inauguration of the Bharat Mobility Global Expo, which stands as the second-largest automotive exhibition globally this year, featuring more than 100 new product launches across vehicles, components, and technologies during its five-day duration.

(KNN Bureau)

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