NEW DELHI — India, which began its electric vehicle (EV) journey with two-wheelers, is set to become a “major producer” of electric vehicles like China in years to come, ace global investor Mark Mobius has said. The EV sales have seen a record surge under the PM E-DRIVE scheme, reflecting the growing momentum of EV adoption. Through initiatives like the Electric Mobility Promotion Scheme (EMPS) and the PM E-DRIVE schemes, electric two-wheelers (e-2W) sales surged to 5,71,411 units in 2024-25. During the same period, sales of electric three-wheelers (e-3W), including e-rickshaws and e-carts, reached 1,164 units, while electric three-wheelers in the L5 category hit 71, 501 units. Also read: India confident of reaching USD 100 bn trade volume with Russia ahead of 2030 timeline: Jaishankar Mobius told IANS that India is going to become a major producer of EVs sooner than expected. “As you know, India started out with smaller EVs but it will eventually become a major producer of electric vehicles. Since the domestic market is so huge, India doesn’t have to export electric vehicles. They can easily produce huge numbers to supply the local market,” Mobius explained. India’s EV journey is similar to China which is now the...