CHENNAI: The Indian e-two-wheeler component market potential is projected to exceed Rs 1,00,000 crore by 2030 while the e-passenger vehicle component is expected to clock another Rs 50,000 crore at least, in terms of revenue potential for ancillaries, said credit rating agency ICRA.
Demand for EV batteries in India (for domestic sales) is projected to be more than 15 GWh by 2025 and more than 60 GWh by 2030.
Shamsher Dewan, senior VP and group head – corporate ratings, ICRA, said, “Auto ancillaries have started investing in EV components to capitalise on this opportunity, and companies have entered into collaborations/joint ventures in cases of technological impediment.”
