India’s tryst with EVs is more than 20 years old. It took more than two decades for wider adoption of EVs. Even today EV cars are out of reach for entry level car buyers, whereas the two-wheeler story is different.
Electric two-wheelers and three-wheelers are started gaining importance when it comes to the last mile connectivity. The growing demand stems confidence among the manufacturers.
A research report from CEEW Centre for Energy Finance estimates the worth of EV market to be around $206 Billion in 2030. This requires an estimated investment of over $ 180 billion in vehicles production and charging Infrastructure. Last one year alone, EV makers committed Rs. 10,000 crores in investment. In that, Tamil Nadu got the lion’s share.
Investment in EV ( Last 12 Months )