India's EV Milestone: 2 Million+ Registrations in 2025 Signal Green Revolution Published By Anupam Nath India's electric vehicle (EV) market has achieved a historic breakthrough in 2025, with total registrations across all segments surpassing 2.02 million units for the first time—excluding hybrids. This marks a significant leap from 1.95 million in 2024, with over a month left in the year, underscoring robust consumer demand despite policy shifts.���The surge stems from multiple converging factors. Falling battery costs, bolstered by rising localization and manageable magnet shortages, have made EVs more affordable. An expanding charging infrastructure addresses urban buyers' needs through home and workplace options, while new models offer longer ranges and faster charging. CRISIL Ratings Director Poonam Upadhyay notes mid-teen growth this year, supported by firm two-wheeler demand, steady three-wheeler fleet electrification, and a competitive four-wheeler pipeline.��Electric two-wheelers dominate, claiming 57% of volumes at 1.2 million units year-to-date, edging past 2024's full-year 1.15 million. Established OEMs like Ola, Ather, and Bajaj leverage extensive dealer networks, competitive pricing, and enhanced ranges to build retail confidence. This segment's growth reflects India's two-wheeler-centric mobility culture shifting green.��Passenger vehicles, including cars and SUVs, posted a stellar 57% rise to 156,455 units from 99,429 last year. Mid-range models and improved total cost of ownership drive traction, easing infrastructure concerns for city dwellers. Three-wheelers held steady at around 690,000 units, aiding last-mile electrification.��This milestone highlights policy continuity, consumer interest, and supply chain maturity fostering sustainable growth. As India pushes toward net-zero goals, EVs promise reduced emissions, job creation, and energy independence. Challenges like charging scalability persist, but 2025's record positions the nation as a global EV leader.��
