In Short : India is set to have over 28 million electric vehicles on the road by 2030, driven by rising demand, government incentives, and better infrastructure. Two-wheelers will dominate EV sales, followed by four-wheelers and commercial vehicles. To support this growth, India’s power capacity must nearly double, with a strong push for renewable energy and energy storage solutions.
In Detail : India’s electric vehicle market is projected to witness remarkable growth, with the number of operational EVs expected to exceed 28 million by 2030. This surge is being fueled by rising consumer interest, government-backed incentives, and rapid advancements in charging infrastructure across the country.
In the fiscal year 2023-24 alone, EV sales in India surpassed 4.1 million units. According to the India Energy Storage Alliance (IESA), electric two-wheelers will continue to dominate the market by 2030, comprising 83% of all EV sales. Electric four-wheelers are expected to account for 10%, while commercial EVs, including three-wheelers, buses, and trucks, will make up the remaining 7%.
This growing EV adoption will significantly impact the nation’s electricity consumption. To meet future energy demands, India plans to expand its total installed power capacity from 466 GW in January 2025 to around 900 GW by 2032. Of this, 500 GW is expected to come from renewable sources, including wind, solar, and small hydro projects.
Government initiatives play a key role in supporting this transition. Incentives targeting both supply and demand, along with focused efforts to build and improve EV charging infrastructure, are helping to increase public confidence in electric mobility. These measures aim to accelerate EV adoption across all segments of society.
As the number of EVs on the road grows, integrating renewable energy and scaling up energy storage systems will become essential. Efficient storage solutions are needed to balance the grid and ensure stable power supply, especially with the variable nature of renewable energy sources.
India’s journey toward decarbonizing its transport sector reflects a broader commitment to sustainability and clean energy. The success of this transition will depend on a coordinated effort between government policies, industry innovation, and infrastructure development to meet the evolving needs of the growing EV ecosystem.
