On Thursday, a report by SBI Research revealed that India can save a significant amount of its import bill, worth Rs 1 lakh crore, if the country achieves a 20 per cent electric vehicle adoption rate by 2030. Currently, the adoption rate stands at 10 per cent. New Delhi is leading the way with its new electric vehicle policy, which aims to promote the use of electric vehicles. The policy includes incentives such as subsidies and waivers on road tax and registration fees for eligible vehicles.
The report highlights the growing trend of electric vehicle adoption in India, particularly after the onset of the US-Iran war on February 28. The registration of electric vehicles has seen a significant jump, with an average of 2.3 lakh registrations between March and June, compared to 1.3 lakh in 2025. The penetration of pure electric vehicles is also on the rise, with some states seeing over 10 per cent of total registrations being electric vehicles. India currently has 29,151 charging stations, with Karnataka and Maharashtra accounting for 35 per cent of the total.
The Delhi government plans to install 32,000 charging points over the next four years, which will further boost the adoption of electric vehicles. The report estimates that by 2030, 20 per cent of the projected 4 crore vehicles on the road will be electric, resulting in significant savings on the import bill. The new electric vehicle policy in Delhi is expected to play a crucial role in achieving this goal, with incentives such as purchase subsidies and tax waivers for eligible vehicles.
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📰 Source: Mangalorean News