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Powered by Power The EV Industry in India
As one opens the newspaper these days, an article on the EV space becomes easy to spot. Rarely a day goes when one does not see either a new start up getting funded or the launch of either a new vehicle or a fresh initiative being
announced by the Govt.
Keeping in line with this trend, RBSA is pleased to release its first report on the EV sector with particular focus on India. Dominated largely by 2W and 3 W this space has seen significant development in the Country over the recent past. This report gives a birds eye view on the basics of the industry, the initiatives taken by GoI and various State Govts, the key OEMs, and the key players in the charging infrastructure and battery space.
The EV Charging Infrastructure
For realizing the 2030 objectives of the GOI as far as achieving e-mobilty is concerned, an accessible and robust network of EV charging infrastructure is an absolute pre-requisite. An optimal integration between the electricity
suppliers and the end users is hence a must and particularly even more considering the uniqueness of the Indian transport system. Without going into technicalities, it is therefore evident that a number of agencies are involved and all have to work in close cohesion to ensure an effective and economical charging infrastructure.
EV Industry Expected that by 2025
However, it is expected that by 2025, the 2W segment is likely to have a market penetration of ~ 10% which may go up to ~30% by 2030. 3W are likely to have a much deeper penetration and are expected to reach ~ 40% in 2025 and ~ 70% in 2030.
The penetration for 4W is likely to be dominated by commercial vehicles with ~10% in 2025 and ~25% in 2030. Buses, run mostly by STUs are likely to have a penetration of ~ 20% in 2025 and ~35% by 2030.
It is an established fact that EVs are now the vehicles of the future and it is Power that will Power us ahead as far as mobility is concerned. The world is looking forward to this space with avid interest; the availability of pollution free, economic and safe to use viable means of moving around from one place to another is indeed enticing. The EV revolution has not only begun; it has started gathering pace.
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