India's EV Sales Projected to Reach 10 Million Units by 2030

Electric Vehicles (EV) sales in India are expected to reach 10 million units by the end of the decade, creating five million jobs, Union Environment Minister Bhupender Yadav announced at the 3rd International Conference on Sustainable Circularity held by the Society of Indian Automobile Manufacturers (SIAM).

The minister highlighted the necessity for electric vehicles to account for 50% of all vehicle sales by 2030 to guarantee the automotive sector aligns with India’s 2070 net zero emission targets. “Rising vehicle sales is good news for the economy... And if we work together, we can ensure this is not bad news for the environment either,” Yadav said, underlining the dual challenge of economic growth and environmental sustainability.

Yadav projected EV sales to comprise nearly 35% of the total vehicle market by 2030 but stressed that achieving the net zero target requires this share to rise to 50%. He noted that an expanded EV fleet could reduce carbon footprints by five metric tonnes by 2030, potentially scaling to 110-380 metric tonnes by 2050.

Highlighting the environmental impact of EVs, Yadav cautioned that while EVs emit no pollutants, their batteries rely on electricity, which must also come from clean energy sources.

Encouraging the auto industry to adopt sustainable practices, he urged participation in the Green Credit Programme. He called for SIAM to promote circular manufacturing, adding that adopting such practices could contribute USD 624 billion to India’s economy annually by 2050.

Yadav said the push for circularity in vehicle production is crucial for a sustainable future, both economically and environmentally.