NEW DELHI: The electric Vehicles (EVs) segment in India is likely to see investments worth $12.6 billion (Rs 94,000 crore) over the next five years, while 1,300 acres will be required to set up the targeted 110 GWh battery manufacturing capacity by 2030, said property consulting firm Colliers in a joint report with Indospace titled ‘Electric Mobility in Full Gear’.
Most of the investments are planned in the EV components and assembly-line production, followed by investments in battery manufacturing.
Colliers estimates that India will need about 26,800 public charging spots by 2025, requiring space of about 13.5 mn sq ft.
Tamil Nadu has emerged as the frontrunner, accounting for 34% share in the total planned investments for EV, followed by Andhra Pradesh and Haryana with a share of 12% and 9%, respectively. The three states will collectively see the highest investments in battery manufacturing, with a 71 per cent combined share.
