EV sales in India to cross 9 million units by 2027

CHENNAI: EV sales in India is all set to cross 9 million units by 2027 says a new report by IVCA-EY-IndusLaw. The Indian Private Equity and Venture Capital Association (IVCA) launched a report on “Electrifying Indian Mobility” in Mumbai, in partnership with EY and IndusLaw.
Rajat Tandon, President, IVCA stated that, “$ 1.7 billion was invested in the EV industry in 2021 by the PE/VC investors. This amount has reached ~USD 666Mn in 2022 so far. While the Indian start-up ecosystem is focused on technological adaptation and environment,social aspects have also topped their themes for innovation. This is likely to give further boost and momentum to the growth in ESG and Climate specific funds. Fast adoption of EV across all the segments is truly the path to the green frontier. The IVCA-EY-IndusLaw report reveals some such interesting facts and data as it elaborates various challenges and opportunities that prevail in the sector. I would like to thank EY and IndusLaw team for collaborating with IVCA in putting together this report and for their detailed work.”