India's automobile industry is on threshold of transformation: Minister

India is now among the fastest-growing electric vehicle markets in the world, as over 1 million EV units were sold in the country in 2024-25, Union Minister HD Kumaraswamy said on Wednesday.

The minister for heavy industries and steel asserted that India's automobile industry is on the threshold of transformation, transitioning from internal combustion to clean mobility, and from the domestic market to global aspirations.

"In 2024-25, India sold over one million electric vehicles, with electric two-wheelers growing 21 per cent and electric three-wheelers growing 57 per cent. India is now among the fastest-growing electric vehicle markets in the world," Kumaraswamy said.

 

The minister made the remarks while delivering a video message at the Auto Retail Conclave organised by the Federation of Automobile Dealers Associations (FADA) here.