India’s electric vehicle revolution is gathering unprecedented momentum, with a new report by KPMG India projecting that annual EV sales in the country could reach 22 million units by 2035. The forecast signals a dramatic transformation in the automotive landscape and highlights how rapidly India is moving toward cleaner and more sustainable mobility solutions.
The report suggests that EV penetration could exceed 50 percent across several vehicle segments by 2035, driven by strong policy support, improving technology, and rising consumer awareness. Two wheelers and three wheelers are expected to continue leading the charge, as they already account for a significant share of current electric vehicle adoption. Affordable pricing, lower running costs, and increasing fuel prices are pushing both individual buyers and fleet operators to consider electric alternatives.
Government initiatives have played a critical role in accelerating the shift. Programs such as the Faster Adoption and Manufacturing of Electric Vehicles scheme have incentivized manufacturers and consumers alike. Production linked incentives and state level subsidies have further strengthened the ecosystem, encouraging investments in battery manufacturing and local supply chains. These efforts are gradually reducing dependence on imports and building confidence among global and domestic automakers.
Passenger vehicles and commercial vehicles are also projected to witness strong growth over the next decade. As charging infrastructure expands across highways and urban centers, range anxiety is expected to decline significantly. Private companies and public sector undertakings are investing heavily in charging networks, creating a more supportive environment for widespread EV adoption.
Despite the optimistic outlook, challenges remain. Securing critical raw materials such as lithium, cobalt, and nickel continues to be a strategic concern. Global supply chains are concentrated in limited regions, making diversification and domestic capability building essential. The report emphasizes the importance of battery recycling, alternative chemistries, and international partnerships to ensure long term sustainability.
India’s EV market has already demonstrated impressive growth in recent years, with sales crossing millions of units annually. However, reaching 22 million units by 2035 will require sustained collaboration between policymakers, manufacturers, energy providers, and consumers. Infrastructure development, grid readiness, technological innovation, and competitive pricing will determine how quickly the country achieves this milestone.
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