Reflections and Aspirations from EV Industry Leaders in 2024 & Outlook 2025

Reflections and Aspirations from EV Industry Leaders in 2024 & Outlook 2025

The Year 2024 was marked by significant progress in India's electric vehicles (EV) industry, which paves the way for a promising future. With developments spanning fleet expansions, revenue growth, and policy-driven initiatives, the segment has strengthened its position in the sustainable mobility landscape. Few of the industry leaders from Revfin, Godawari Electric Motors, and Zypp Electric share insights on the key moments of 2024 and outline their outlook for 2025. Their focus on enhancing EV accessibility, infrastructure, and green technologies highlights the ongoing efforts to shape a cleaner and more inclusive mobility ecosystem.

Mr. Sameer Aggarwal, Founder & CEO – Revfin, says:

“2024 has been a defining year for India’s automotive sector, marked by accelerated adoption of electric vehicles, advancements in sustainability, and the integration of innovative technologies. Initiatives like FAME II and the PLI scheme have strengthened the foundation for the sector’s growth, while evolving consumer preferences toward green and shared mobility continue to shape its trajectory.”

“Building on this momentum, 2025 is expected to be an year for EV adoption. With an intensified focus on developing robust EV charging infrastructure and scaling up battery-swapping networks, transitioning to electric mobility will become more seamless for consumers. Coupled with innovative financing models and targeted efforts to reach underserved markets, the industry is set to overcome accessibility barriers and make sustainable mobility a reality for all. Collaboration between automakers, policymakers, and technology providers will ensure a cohesive ecosystem, enabling India to lead the way in sustainable and inclusive mobility solutions.”

Mr. Hyder Ali Khan, Director & CEO, Godawari Electric Motors, said:

“2024 has been a remarkable year for Godawari Electric Motors, marked by significant growth and valuable learnings that have strengthened our journey in the EV space. The launch of new products this year provided the necessary boost to the Eblu brand value, further solidifying our position in the market. We are deeply grateful to the government and all our stakeholders for their unwavering support, which has been instrumental in fostering a conducive environment for the EV industry to thrive.”

“As we look ahead to 2025, we are excited about the robust expansion of our Eblu product portfolio, catering to the evolving needs of our customers. Additionally, we have some promising public and private orders in the pipeline, which will further accelerate our growth trajectory.”

“We remain committed to driving innovation and sustainability in the EV sector and look forward to continued collaboration with our stakeholders to shape a cleaner and greener future for mobility.”

Mr. Akash Gupta, Co-Founder and CEO, Zypp Electric, said:

“As 2024 comes to a close, we are proud to reflect on a year of remarkable achievements at Zypp Electric. This year, we expanded our fleet to over 22,000 electric scooters, serving key cities including Hyderabad, Bengaluru, Mumbai, Delhi NCR, and Bangalore.  Our revenue surged by 2.5 times, from ₹125 crore in FY 2022-2023 to ₹325 Crore in FY 2023-2024, and we completed over 80Mn million green deliveries overall and 54Mn+ this year out of which proud to electrify 21Mn+ Quick commerce deliveries this year contributing to a significant reduction in carbon emissions. Our strategic collaborations with OEMs like E-Sprinto and OdysseEV to onboard 30,000 and 40,000 EVs respectively to strengthen the goal of 200,000 EVs in the next 2-3 years has been one of the key aspects of this year. We are also super excited to have Ex-Softbank India Head and Ex-Airtel CEO Mr Manoj Kohli as a Senior Advisor, which would be pivotal in driving the greenification goal next year.”

“We also empowered over 22,000+ delivery executives, enhancing their earnings by 50% and top earners have touched a staggering monthly income of ₹99,949 during the festive season which shows the potential of our platform enabling the gig-economy.  The EV sector has witnessed transformative growth, driven by policy support, technological advancements, and an increasing focus on sustainability. In last-mile logistics, EVs have proven to be the game-changer, offering cost-efficient, eco-friendly, and scalable solutions for urban mobility.”

“Looking ahead to 2025, Zypp Electric is committed to deploying 200,000 electric vehicles across the country in the next 12-18 months and we will double down on innovation, fleet expansion, and partnerships to meet growing demand. We will focus on bolstering EV charging infrastructure, enhancing intelligent fleet management, and contributing to India's net-zero goals. Together, we aim to revolutionize last-mile logistics and make green mobility the norm for businesses and communities alike.”