Chennai: India’s electric vehicles (EV) value chain revenue pool is expected to reach anywhere between $76-$100 billion by 2030, says a recent report released by Bain & Company. This could translate to an $8-11 billion profit pool for the EV industry.
“Contributors to the auto revenue and profit pools in 2030 will be significantly different,” said Deepak Jain, partner at Bain & Company and co-author of the report. “While 40%–50% of the revenue pool will come from auto OEMs, new business opportunities such as battery (13%), charging (8%), mobility (6%) will emerge and scale. Unified platforms will become the next big play as many EV ecosystem players are looking for forwards or backwards integration.”
Currently the Indian EV sector has seen $3.7 billion private equity and venture capital investments over the past three years. According to the report, 35%–40% of all vehicles sold in India by 2030 will be EVs, up from 2% right now. This would mean approximately 14-16 million new EVs sold each year. The two-wheel and three-wheel EV segments will achieve 40%-45% penetration by 2030, says the report.
