He also said that the sale of EV vehicles has increased 640 times in the past decade, reachng 16.80 Lakh in 2024 from 2,600 EVs sold annually ten years ago
Modi cited initiatives like the FAME-2 scheme, PM E-Drive scheme, PM E-Bus, Battery Storage Initiatives behind this robust growth
Conveying the success of the FAME-2 scheme launched five years ago, the Prime Minister said that the scheme provided over INR 8,000 Cr in subsidies
Reflecting on the immense potential within the electric vehicle sector, Prime Minister Narendra Modi has projected that the number of electric vehicles in India may see an eightfold rise by the end of this decade.
PM Modi was addressing the Bharat Mobility Global Expo 2025 at Bharat Mandapam in New Delhi today (January 17).
He also said that the sale of EV vehicles has increased 640 times in the past decade, reachng 16.80 Lakh in 2024 from 2,600 EVs sold annually ten years ago.
Modi cited initiatives like the FAME-2 scheme, PM E-Drive scheme, PM E-Bus, Battery Storage Initiatives behind this robust growth.
Conveying the success of the FAME-2 scheme launched five years ago, the Prime Minister said that the scheme provided over INR 8,000 Cr in subsidies, supporting the purchase of 16 Lakh electric vehicles, including more than 5,000 e-buses and the development of charging infrastructure.
He noted that over 1,200 electric buses funded by the Centre are operational in Delhi, showcasing the scheme’s impact.
The PM highlighted the introduction of the PM E-Drive scheme in the third term, which aims at supporting 28 lakh EV purchases, including two-wheelers, eambulances and etrucks, while also installing 70,000 fast chargers nationwide.
The e-bus service will enable the operation of 38,000 e-buses in smaller cities, he added.
Highlighting India’s growing appeal to global investors, he emphasised that the government’s policies are creating a robust EV manufacturing ecosystem and strengthening the country’s EV value chain.
Underlining the vision of the “Seven Cs for mobility solutions”: Common, Connected, Convenient, Congestion-free, Charged, Clean, and Cutting-edge, Modi said that the focus on green mobility is part of this vision.
He remarked that India was building a mobility system that supports both the economy and ecology, reducing the import bill for fossil fuels.
The Prime Minister also underlined growth in the broader automobile sector saying that the industry has experienced nearly 12% growth in the past year, with annual car sales reaching approximately 2.5 Cr.
He noted that factors including a large youth population, an expanding middle class, rapid urbanisation, modern infrastructure development and affordable vehicles through initiatives like ‘Make in India’ have contributed to propelling this growth.
On the infrastructure front, he said that the government has allocated over INR 11 Lakh Cr for infrastructure improvements, focusing on multi-lane highways and expressways to enhance travel ease.
Meanwhile, advancement in technologies like FASTag and the National Common Mobility Card are also enhancing travel experiences.
He said that over the past decade, new avenues for foreign direct investment (FDI) and global partnerships have been established, with the sector attracting over $36 Bn in FDI in just four years.
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