Electric vehicle market is likely to attract investments of Rs 94,000 crore over the next five years and is expected to generate business opportunities in the real estate sector, according to a joint report by Colliers India and Indospace.
The report ‘Electric Mobility in Full Gear’ mentioned that the electric vehicle (EV) industry in India is currently at a nascent stage but it is likely to grow, backed by government initiatives and a move towards recognising climate change.
“India is taking a step towards sustainability and has vowed to cut its carbon emissions. At the recently concluded CoP26 summit, India pledged to reach net-zero carbon emissions by 2070. In India, the transport sector is currently the third-largest emitter of CO2. This is leading to increased thrust on EVs in India,” it said.
