2024 has been a pivotal milestone in India’s EV evolution, setting the stage for transformative growth. Between April and November alone, India achieved an impressive 13.06 lakh EV registrations reflecting a 25.64% growth compared to the previous year. This momentum has been fuelled by the rise of indigenous manufacturers delivering groundbreaking innovations, supportive government policies, and a growing shift toward eco-conscious consumerism.
The expansion of ‘Make in India’ manufacturing has strengthened the nation’s EV sector, while initiatives like PM E-DRIVE, FAME II, and reduced import duties have fuelled adoption. Key milestones this year included March, when subsidy-driven sales peaked at 213,064 units, and October, which saw festive-led sales reach 219,322 units. India’s charging infrastructure has also witnessed a transformative leap. From around 12,000 public charging stations previously, the country now boasts over 25,202 such facilities, thanks to initiatives like PM E-Drive, which allocated ₹10,900 crore, including ₹2,000 crore exclusively for charging infrastructure
Looking ahead to 2025, resolving the inverted GST structure in the two-wheeler segment is crucial. While the lower 5% GST on EVs encourages adoption, the 18-28% GST on raw materials creates high working capital demands, increasing costs unnecessarily. Addressing this taxation disparity and refining policies will create a stronger foundation for the sector’s efficiency and competitiveness, providing a much-needed boost for sustainable growth.
As we look to 2025, India stands at the cusp of becoming a global EV leader. Enhanced affordability, improved range, robust charging networks, and rural penetration are set to define the next phase of growth. Indigenous manufacturers are set to raise the bar with groundbreaking offerings, while the government’s continued investment will fuel adoption across urban and rural markets alike. At Oben Electric, we are proud to lead this revolution with high-performance, innovative, and affordable electric two-wheelers, redefining mobility for Indian consumers.” — said Ms. Madhumita Agrawal, Founder & CEO, Oben Electric
About Oben
Oben Electric is an R&D-driven electric motorcycle organization founded in August 2020 and headquartered in Bengaluru. Oben Electric specializes in designing, developing, and manufacturing performance electric motorcycles and its critical EV components in-house, here in India. With a team of passionate technologists with over 25 years of collective hands-on experience in the electric vehicle R&D, Oben Electric focuses on “Design in India for the World.”
The company has been at the forefront of transforming the electric two-wheeler landscape in India by introducing several groundbreaking initiatives. Oben Electric pioneers the use of advanced battery chemistry, such as LFP, in electric two-wheelers, offering enhanced safety, longer range, and cleaner operation compared to other widely used battery chemistries. Additionally, the company holds more than 25 patents for its proprietary technology and EV components.
As an early entrant in the electric motorcycle market, Oben Electric is leading the adoption of electric motorcycles in India, which happens to be the world’s largest motorcycle market. With limited competition at present, the company aims to become the largest electric motorcycle OEM globally. Their vision is to revolutionize the industry by providing cutting-edge electric mobility solutions that cater to the diverse needs of riders.
To learn more about Oben Electric and their innovative electric motorcycles, please visit their website at www.obenelectric.com.
LinkedIn – Oben Electric, Madhumita Agrawal, Dinkar Agrawal, Sagar Thakkar
