A cumulative investment of over $180 billion (around Rs 12.5 trillion) in vehicle production and charging infrastructure would be required until 2030 to meet India’s electric vehicle (EV) ambitions, according to a recent study.
The independent study, released on Tuesday by the CEEW Centre for Energy Finance (CEEW-CEF) said that India’s electric vehicle market could be worth nearly $ 206 billion (around Rs 14.24 trillion) in the coming decade, if India were to achieve its 2030 EV ambitions.
The cumulative EV sales in all vehicle segments could cross over 100 million units by FY30, 200 times its current market size. At the end of March 2020, the total number of registered EVs in India stood at only half a million.
