The recently concluded EV Expo in India turned out to be a landmark event for Peerless, as we had the distinct honor of welcoming Hon’ble Minister of Textile, Government of India, to our stall. This visit not only highlighted our growing presence in the Indian electric vehicle market but also opened up new avenues for collaboration and dialogue with key stakeholders in the country’s sustainable mobility ecosystem.
Set against the backdrop of India’s ambitious goals for electric vehicle adoption and carbon neutrality, the EV Expo served as a dynamic platform for industry leaders, policymakers, and innovators to converge. To understand the significance of this platform, it’s essential to delve into the current landscape of India’s EV market—a sector that’s at a critical inflection point, balancing immense potential with notable challenges. India’s EV market has been on a growth trajectory, with 56.75 lakh electric vehicles registered by February 2025, and electric two-wheeler sales hitting 11.49 lakh units in FY 2024–25, marking a 21% year-on-year increase . This growth is largely driven by the government’s proactive policy push, including flagship initiatives like FAME II, PLI schemes, and the recently approved electric vehicle manufacturing policy that offers concessional 15% customs duty for eligible global manufacturers committing to minimum investments of INR 4,150 crore (USD 500 million) and 50% domestic value addition within five years .
However, the market also faces significant headwinds. Despite the growth, EV penetration in India’s passenger vehicle segment remains below 3%, with the majority of electric mobility concentrated in two-wheelers and three-wheelers . A key challenge is the inadequate charging infrastructure, with a national vehicle-to-charging-pile ratio of 235:1, exacerbating consumer range anxiety . Additionally, while the government’s policy incentives aim to boost localization and attract global investments, price sensitivity among Indian consumers remains a critical factor—affordable models from domestic brands like Tata and Mahindra currently dominate the market, while high-end imported EVs struggle due to steep customs duties (up to 100% for non-compliant imports) . For Peerless, participating in this expo was a strategic step to showcase our cutting-edge EV solutions tailored to these unique market dynamics—from efficient electric two-wheelers that cater to the largest segment of EV buyers to advanced battery technologies and smart mobility features that prioritize both performance, sustainability, and affordability.
The highlight of our expo journey was undoubtedly the visit by Hon’ble Minister of Textile. Accompanied by senior officials from the Ministry and industry representatives, the Minister took a keen interest in our range of electric vehicles and the innovative technologies we’ve integrated to enhance user experience and environmental friendliness. Our team had the privilege of demonstrating the key features of our flagship EV models, explaining the technical specifications, and sharing insights into how our solutions align with India’s vision of promoting green transportation and reducing reliance on fossil fuels.
During the interaction, Hon’ble Minister commended Peerless for its commitment to sustainable mobility and acknowledged the role of such innovations in driving economic growth while addressing environmental challenges. The Minister also emphasized the government’s support for initiatives that boost the EV sector, including infrastructure development, policy incentives, and skill development programs—all critical to overcoming the market’s current barriers. This exchange not only validated our efforts but also gave us valuable insights into the evolving policy landscape and market demands in India. The government’s focus on localization, for instance, aligns perfectly with our long-term strategy for the Indian market, as we recognize that domestic value addition is key to both accessing policy benefits and offering price-competitive products to Indian consumers.
Beyond the Minister’s visit, the EV Expo was a resounding success for Peerless. We had the opportunity to engage with hundreds of potential customers, business partners, and industry experts, showcasing our product portfolio and sharing our long-term vision for the Indian market. The positive feedback we received—from the design and performance of our EVs to our customer-centric approach—reinforced our confidence in the potential of the Indian EV sector.
As we reflect on this memorable expo experience, we are more determined than ever to strengthen our footprint in India. The visit by Hon’ble Minister of Textile has been a major morale booster for our team, and we are eager to leverage this momentum to explore new collaborations, expand our product range, and contribute to India’s journey towards a greener, more sustainable future.
A big thank you to the organizers of EV Expo for creating such a vibrant platform, and to all who visited our stall and showed interest in Peerless. We look forward to continuing our journey in India, driving innovation in sustainable mobility and building lasting partnerships that benefit both the industry and the environment.
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