1.9 million EVs were sold in 2024, showing 27% annual growth

In 2024, 1.9 million electric vehicle sales were sold in India, which means there was a 27% year-on-year growth from 2023’s sales, according to a report by Mercom. While EVs made up only 3.6% of total automobile sales in India last year, there are over 5.39 million registered EVs in the country now. The most number of EVs were sold in Uttar Pradesh at 368,718 units while the two-wheeler segment accounted for 59% of total EV sales in 2024.

Govt approves PLI incentives of ₹246 crore cumulatively to auto majors M&M, Tata Motors

Pleased with the progress that two of India’s biggest automobile manufacturers – Mahindra & Mahindra and Tata Motors – have made in localising manufacturing of electric, the government has further cleared incentive claims of ₹246 crore submitted by the two auto majors under the ₹25,938 crore PLI scheme for the automobile and auto components industry, according to a report. Tata sought the incentive after totalling eligible sales spread across three EVs – Tiago, Starbus and Ace – at ₹1,380.24 crore. Meanwhile, M&M eligible sales from their e3W models – Treo, Treo Zor, and Zor Grand – totalled ₹836.02 crore.

Prodded by Chinese competition, US EV giant Tesla suffers first ever annual sales drop

US-based electric vehicle company Tesla has recorded its first ever drop in annual sales, as Chinese EV makers are giving it stiff competition, amidst a global slowdown in the demand for electric vehicles, according to the Daily Telegraph. In 2024, Tesla sold 1.79 million cars, just slightly less than the 1.8 million units sold in 2023.

Norway likely to achieve its target of 100% new car sales to be electric in 2025

Norway is likely to become the first country to achieve 100% new car sales to be electric in 2025, which has been a longstanding target for the Nordic country, according to a report by the National. 88% of new cars sold in 2024 were zero-emission. It attributes this growth, in part, to tax incentives funded by Norway’s oil-and-gas revenue. Unlike its EU neighbours, Norway has not imposed tariffs on Chinese electric vehicles, and these have “surged to account for almost 10% of new car sales in Norway in only five years”.

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