The year 2024 is marked by significant advancements in India’s electric vehicle (EV) industry, paving the way for a promising future. With fleet expansion, revenue growth and development of policy-driven initiatives, the segment has strengthened its position in the sustainable mobility landscape. Some of the industry leaders from Revfin, Godavari Electric Motors and Zip Electric shared insights on the key moments of 2024 and outlined their vision for 2025. Their focus on increasing EV access, infrastructure and green technologies highlights ongoing efforts to shape cleaner EVs. A more inclusive mobility ecosystem.
Mr. Sameer Agarwal, Founder & CEO – Revfin:
“2024 has been a defining year for India’s automotive sector, marked by rapid adoption of electric vehicles, advancements in sustainability and integration of innovative technologies. Initiatives such as FAME II and PLI scheme have strengthened the foundation for the sector’s growth, while consumers’ growing preferences towards green and shared mobility are shaping its trajectory.
“Based on this momentum, 2025 is expected to be the year of EV adoption. With an intense focus on developing robust EV charging infrastructure and enhancing battery-swapping networks, the transition to electric mobility will become more seamless for consumers. With innovative financing models and targeted efforts to reach underserved markets, the industry is poised to break down access barriers and make sustainable mobility a reality for all. Collaboration between vehicle manufacturers, policy makers and technology providers will ensure a harmonious ecosystem, enabling India to lead sustainable and inclusive mobility solutions.
Mr. Haider Ali Khan, Director and CEO, Godavari Electric Motors:
“2024 has been a remarkable year for Godavari Electric Motors, marked by significant developments and valuable learnings that have strengthened our journey in the EV sector. The launch of new products this year provided the much-needed boost to the Ablue brand value, further strengthening our position in the market. We are extremely grateful for the unwavering support from the government and all our stakeholders, which has been instrumental in creating an enabling environment for the EV industry to flourish.”
“As we look towards 2025, we are excited about the strong expansion of our eBlue product portfolio while meeting the growing needs of our customers. Additionally, we have some promising public and private orders in the pipeline, which will further accelerate our growth trajectory.
“We are committed to driving innovation and sustainability in the EV sector and look forward to continued collaboration with our stakeholders to shape a clean and green future for mobility.”
Mr. Akash Gupta, Co-Founder & CEO, Zip Electric:
“As 2024 draws 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 major cities including Hyderabad, Bengaluru, Mumbai, Delhi NCR and Bengaluru. Our revenues grew 2.5x, from ₹125 crore in FY 2022-2023 to ₹325 crore in FY 2023-2024, and we completed over 80 million green deliveries overall and over 54 million this year , which is proud to have electrified over 21 million instant commerce deliveries. This year is contributing to a significant reduction in carbon emissions. Our strategic collaboration with OEMs like e-Sprinto and OdysseyEV to onboard 30,000 and 40,000 EVs respectively to strengthen the target of 200,000 EVs in the next 2-3 years has been one of the key highlights of this year. We are extremely excited to have Mr. Manoj Kohli, former Head of SoftBank India and former CEO of Airtel, as a Senior Advisor, who will be crucial in driving the greening goals forward in the next year.”
“We have also empowered over 22,000 delivery executives, increasing their earnings by 50% and the top earners touching an astonishing monthly income of ₹99,949 during the festive season, enabling the gig-economy. Shows the potential of our platform. The EV sector has seen transformative growth due to policy support, technological advancements and increased focus on sustainability. In last-mile logistics, EVs have proven to be game-changers, offering cost-efficient, eco-friendly and scalable solutions to urban mobility.
“Looking ahead to 2025, Zypp Electric is committed to deploy 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 the growing demand. We will focus on strengthening 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.”
