EV a $206 billion opportunity for India by 2030
Should India achieve its 2030 electric vehicle ambition and targets, it would present a market opportunity worth nearly $206 billion in the course of this decade, says an independent study released by the CEEW Centre for Energy Finance (CEEW-CEF). The study also estimates a cumulative investment need of over $180 billion in vehicle production and charging infrastructure until 2030 to meet India’s EV ambition. While India is yet to officially spell out its electrification targets for 2030, the aspiration as stipulated by NITI Aayog-government’s primary think tank, states that 70% of all commercial cars, 30% of private cars, 40 % of buses, and 80% of two-wheeler (2W) and three-wheeler (3W) sales would be electric by the end of this new decade.
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