UP Electric Vehicle Growth: State Leads India with 2.75 Lakh EV Registrations in FY25
UP Electric Vehicle Growth: State Leads India with 2.75 Lakh EV Registrations in FY25
Uttar Pradesh leads India’s electric vehicle adoption with 2.75 lakh registrations in FY25 (Photo: Nirmal Harindran)
Table of Contents
EV Registration Statistics
Uttar Pradesh has emerged as India’s leader in electric vehicle adoption, registering an impressive 2,75,833 electric vehicles in FY25. This remarkable achievement places UP at the forefront of India’s electric mobility revolution, demonstrating the state’s commitment to sustainable transportation solutions.
Key EV Registration Statistics
- Total EV registrations in India (FY25): 11,67,720 vehicles
- UP’s contribution: 23.6% of total national registrations
- Month-on-Month growth (January 2025): 19.4%
- Year-on-Year growth: 17.1%
State-wise EV Adoption
While Uttar Pradesh leads the charge, other states have also shown significant progress in electric vehicle adoption. Maharashtra follows with 1,00,801 registrations, while Karnataka and Tamil Nadu have registered 88,060 and 76,359 electric vehicles respectively. Assam completes the top five with 59,358 EV registrations.
Top 5 States by EV Registrations (FY25)
| State | EV Registrations | Market Share |
|---|---|---|
| Uttar Pradesh | 2,75,833 | 23.6% |
| Maharashtra | 1,00,801 | 8.6% |
| Karnataka | 88,060 | 7.5% |
| Tamil Nadu | 76,359 | 6.5% |
| Assam | 59,358 | 5.1% |
Electric Vehicle Market Trends
The global electric vehicle market, valued at US$ 255.54 billion in 2023, is projected to reach approximately US$ 2,108.80 billion by 2033, growing at a compound annual growth rate (CAGR) of 23.42% from 2024 to 2033. This growth trajectory is reflected in India’s domestic market, where January 2025 saw a 19.4% month-on-month and 17.1% year-on-year increase in EV sales, reaching 1,69,931 units.
Market Growth Indicators
- Global EV market value (2023): US$ 255.54 billion
- Projected market value (2033): US$ 2,108.80 billion
- CAGR (2024-2033): 23.42%
- January 2025 sales: 1,69,931 units
Future Outlook and Projections
The electric vehicle penetration is expected to increase significantly in FY26, driven by new four-wheeler launches and expanding two-wheeler options. The electric two-wheeler segment, which crossed one million units in fiscal 2025, is projected to grow by 25% in FY26, supported by a wider distribution network and new model introductions.
Key Growth Drivers
- New four-wheeler model launches
- Expanding distribution networks
- Government support and incentives
- Increasing consumer awareness
- Technological advancements
Industry Analysis and Challenges
While the electric vehicle industry shows promising growth, challenges remain in achieving profitability. According to Anand Kulkarni, Director of Crisil Ratings Ltd., the break-even period for electric two-wheeler players may extend to 2-3 years at current growth rates. The average EBITDA loss per vehicle for pure electric two-wheeler manufacturers is estimated at ₹20,000-30,000 in fiscal 2025.
ICRA, a leading rating agency, predicts exponential growth in EV penetration across automotive segments over the next five years, driven by government support, enhanced awareness, and increasing product launches. The industry’s future success will depend on achieving economies of scale and narrowing the cost differential with internal combustion engine (ICE) vehicles to 5-10%.
Published on April 21, 2025
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