India needs to invest USD 180 billion over the next decade to realise its EV ambition
CHENNAI: India needs to make a cumulative investment of over $180 billion in electric vehicle production and charging infrastructure until 2030 to meet its electric vehicle (EV) ambition, finds a recent study by the CEEW Centre for Energy Finance (CEEW-CEF).
According to the study, the country’s electric vehicle market could be worth nearly $206 billion (around Rs 14.24 lakh crore) 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, which is 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.
