Electric vehicles (EVs) present an opportunity of almost Rs 3 trillion for various stakeholders in India over the next 5 years through fiscal 2026, a CRISIL analysis indicates.
The opportunity includes potential revenue of about Rs 1.5 trillion across vehicle segments for vehicle makers as well as component manufacturers and Rs 90,000 crore in the form of disbursements for vehicle financiers, with shared mobility and insurance accounting for the balance.
Meanwhile, reflecting the shifting from ICE to battery operated vehicles, data on the Vahan portal shows the share of electric three-wheelers (3Ws) increased to almost 5 per cent of three wheelers registered in fiscal 2022 from less than 1 per cent in fiscal 2018.
