Opportunities in the Indian Electric Vehicle Sector
India stands on the cusp of a ground-breaking revolution in electric mobility. With growing investment from domestic and foreign companies, and supportive government policies, annual electric vehicle (EV) sales are predicted to be around 10 million per year by 2030, which will make India one of the world’s largest EV markets, accounting for nearly one in every ten EVs sold globally.
This report is designed to help UK companies understand the developing EV sector in India to inform their strategy and approach to the market. It looks at the strategy of India’s automotive manufacturers, profiling domestic players, foreign investors and two-wheel producers as they transition to electrified propulsion. Key recent developments in India’s EV ecosystem, including charging infrastructure and battery swapping are also discussed along with the national policy landscape.
India and the UK have a long and close history of co-operation in automotive and electrification , which opens up significant new opportunities for UK firms. This report highlights several areas of opportunity.