Electric vehicle (EV) adoption in India is picking up pace, and studies indicate the shift could bring major savings to the government by reducing crude oil imports.
With crude prices rising amid war-related disruptions, petrol and diesel prices have climbed, pushing more consumers toward EVs. In June, EV sales share crossed double digits in 12 states, with Assam and Odisha among the leading performers.
Data suggests that increasing EVs’ share in new vehicle registrations from the current 10% to 20% by 2030 could help India save around Rs 1 lakh crore every year on crude oil import expenditure.
Overall vehicle registrations are expected to rise from 2.9 crore in 2025 to about 4 crore by 2030. Of this, around 80 lakh vehicles—about 20%—could be EVs, compared with 15.7 lakh EV registrations in 2025.
Experts also estimate that between 2027 and 2030, an additional 35 lakh EVs could come into use as alternatives to petrol vehicles, further lowering the country’s crude import bill.
