EV financing industry to be worth ₹3.7 lakh crore by 2030: Niti Ayog report
NITI Aayog and Rocky Mountain Institute (RMI) India released a new report called ‘Mobilising Electric Vehicle Financing in India’. The new report highlights the role of finance in India’s transition to electric vehicles (EVs) and analyses that the transition will require a total capital investment of $266 billion ( ₹19.7 lakh crore) in EVs, charging infrastructure, and batteries over the next decade.
The report also claims that the electric vehicle financing industry will use a market size of $50 billion ( ₹3.7 lakh crore) by 2030, which amounts to about 80% of the current size of India’s retail vehicle finance industry, worth $60 billion ( ₹4.5 lakh crore) today.
