Office Address
123/A, Miranda City Likaoli Prikano, Dope
Phone Number
+0989 7876 9865 9
+(090) 8765 86543 85
Email Address
info@example.com
example.mail@hum.com
123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
EV adoption has slowed following the
reduction in electric vehicle subsidies and a nationwide price surge, . This
downward trend is evident in the decreasing registration numbers recorded last
year, a pattern that persists into 2025. According
to data from Vahan, which tracks vehicle registrations in the country,
in CY2022, electric four-wheeler registrations were at 33,267 units, and it
more than doubled to 73,299 units in CY2023 due to subsidies, lower prices and
more launches. However in CY2024, EV registrations fell to 67,407 units. In
2025, the electric vehicle registrations have dropped month-on-month; in
January 4,117 vehicles were registered; 2,665 in February, and 1,720 so far in
March.
State governments have started to
impose road and other taxes on electric vehicles, leading to price increases across
the country. Experts have pointed out that this would slow down vehicle
penetration. “The additional tax on
premium electric vehicles would slow broader consumer adoption,” Nikhil Dhaka,
Vice President, Primus Partners told businessline.
The Indian government is targeting 30
per cent electric vehicle penetration by 2030. Presently, the electric vehicle
penetration is nearly 2 per cent. The penetration is expected to reach 9 per
cent by FY30, according to Nomura. The vehicle penetration is expected to grow
to 5 per cent by FY27. “The government
should think about continuing the subsidy which will help in the electric
vehicle penetration across the country,” said Manish Raj Singhania, Chairman,
of Research & Academy, Federation Of Automobile Dealers Association. The
Maharashtra State government will be implementing a 6 per cent tax on premium
electric vehicles priced at ₹30 lakh from April. “The implementation of road
tax by the Maharashtra government would lead to an increase in on-road price
for EVs in the State.
The same is likely to be offset, to an extent,
by an expectation of a gradual decline in battery prices,” said Rohan Kanwar
Gupta, Vice President & Sector Head, Corporate Ratings, ICRA Limited.
