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SHUBINVESTS I SEBI RA

26th May 2025 · SEBI-Registered Analyst

⚡Where Are EVs in 2025? And Where Does India Stand ?

The EV revolution is here — but it’s moving at different speeds across the globe. The IEA’s Global EV Outlook 2025 shows just how far we've come — and how far we still need to go. 🌍 Global Snapshot 🌐 Over 17 million EVs sold in 2024, with 2025 expected to cross 20 million+. 🇨🇳 China dominates — 60% of new cars sold are electric. 🇪🇺 Europe holds steady at 20-25%, but subsidies are fading. 🇺🇸 USA trails behind at ~10%. 🇮🇳 India’s EV Scene 🛻 Just 2% of car sales were electric in 2024 (~1 lakh units). 📈 But Q1 2025 saw 45% YoY growth — a strong upward trend. 🎯 Target: 15% market share by 2030 for electric cars. 💰 Affordability Is Key China wins here: EVs are often cheaper than petrol cars. India is catching up: price gap now <15% for small EVs. Govt support like PLI schemes & tariff barriers encourages local manufacturing. 🚚 Heavy-Duty EVs China leads in electric truck sales (80% global share). India saw a decline in electric truck sales in 2024. But 📊 electric bus count rose to 11,500+, thanks to PM e-Bus Sewa. 🛵 India’s Real EV Revolution: 2 & 3-Wheelers 2W sales hit 1.3 million units in 2024 (6% market share). India is a global leader, with 220+ EV makers. EVs like Ola S1X priced under ₹70,000 make it affordable for the masses. PM E-DRIVE policy continues to power growth with direct subsidies. 🏭 What About Manufacturing? Global shift: Chinese EV makers are building plants abroad to beat tariffs. In India, partnerships like

JSWENERGY
+ SAIC (MG Motor) are emerging. But will India stay self-reliant or get pulled into China’s orbit? 🤔 🔋 The EV future is bright — but India’s journey will depend on smart policies, local innovation, and bridging affordability gaps.

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