Government Subsidies Boost EV Adoption, 2.86 Million Units Supported

Subsidy programmes have been a key driver behind India’s soaring electric‑vehicle market. The PM‑E‑Drive initiative, managed by the Ministry of Heavy Industries, has disbursed financial support to 2,863,000 EVs so far. This includes more than 2.588 million electric two‑wheelers, about 275,000 three‑wheelers and a handful of e‑trucks. As a result, total EV sales have topped 1.01 crore units, growing at an unprecedented 79 percent CAGR over the past twelve years. The latest fiscal year, 2025‑26, saw a record 2,545,622 EVs sold, the highest annual tally in the country’s history.