Encouraged by demand, EV makers line up investment, increase capacity

Tamil Nadu leads among the states, expects investment doubling to 40,000 crore in 2 years

Electric vehicle (EV) makers in India (including start-ups and conventional automakers) have committed over Rs 9,000 crore in the past one year as they seek to ride on the opportunity thrown open by electric mobility. This doesn’t include investments made by component suppliers and battery manufacturers.

An independent study by CEEW Centre for Energy Finance estimates the EV market in India to be a $206-billion opportunity by 2030, provided India maintains steady progress to meet its ambitious 2030 target. This will require a cumulative investment of over $180 billion in vehicle production and charging infrastructure.

Not surprisingly, among these, the