India Accelerates Electric Mobility Drive with Manufacturing Milestones and Policy Momentum

Hyundai Motor India Ltd (HMIL) has set a new benchmark in localizing electric vehicle (EV) production, achieving a 92% domestic manufacturing rate for over 1,200 components, including EV battery packs. This milestone, aligned with India’s Make-in-India initiative, not only strengthens the country’s EV supply chain but also underscores significant cost savings and job creation. The Chennai-built battery packs, set to power Hyundai’s upcoming CRETA Electric, highlight India’s growing role as a hub for sustainable mobility solutions. This progress complements broader industry shifts, such as EaseMyTrip’s ₹200 crore investment in its electric bus subsidiary, Easy Green Mobility, and Shriram Finance’s recent declaration that EV financing is now “no longer risky” due to maturing technology and established manufacturers.

Regional initiatives are further fueling this momentum. Telangana’s push to position Hyderabad as a global EV hub through projects like the Telangana Mobility Valley (TMV) and its Formula E race underscores the intersection of policy, innovation, and branding. BRS leader K T Rama Rao emphasized that such efforts aim to attract R&D and manufacturing investments, creating employment while advancing India’s green mobility goals. Meanwhile, the central government’s ₹500 crore Electric Mobility Promotion Scheme (EMPS) 2024, replacing the expired FAME II program, continues to incentivize EV adoption through subsidies and infrastructure development.

From startups like PURE EV eyeing 2025 IPOs to legacy automakers like Tata Motors expanding their global EV footprint, India’s automotive sector is rapidly transitioning from traditional manufacturing to integrated mobility solutions. With states and corporations alike prioritizing localization, sustainable innovation, and financial accessibility, the country is poised to emerge as a leader in the global electric mobility revolution—one driven by policy agility, industrial collaboration, and a shared vision for decarbonized transportation.