The cumulative number of EVs on Indian roads will likely cross 28 million units in 2030, generating significant demand for energy from the grid, according to the India Energy Storage Alliance (IESA), a leading industry body focused on e-mobility, energy storage and hydrogen.
India's cumulative EV sales have crossed 4.1 million units in the fiscal year 2023-2024 and the future outlook for electric vehicle sales continues to be positive, driven by increasing environmental awareness, customer interest, advancements in Battery technology, and readily available and easily accessible EV charging infrastructure, according to an IESA statement.
“It is predicted that 83 per cent of the annual sales would be e-2wheelers, 10 per cent would be e-4wheelers, and commercial vehicles such as trucks, buses while three-wheelers would contribute to 7 per cent of sales,” IESA said.
India continues to make significant and sustained inroads in its decarbonisation journey, with the rapid increase in sales of electric vehicles, supported by demand and supply incentives, growing consumer demand, and a focus on developing charging infrastructure.