India's EV Market Poised for 12x Growth to 30.4 Million Units by 2032
Quick Look
- India's electric vehicle market is projected to grow 12x to 30.4 million units by 2032, driven by policy support and consumer appeal.
- Electric two- and three-wheelers will lead sales, while battery demand surges from 19 GWh to 362 GWh.
- The domestic component market is expected to reach Rs 3,02,000 crore.
AI-generated summary
India's electric vehicle market is projected to grow 12x to 30.4 million units by 2032, driven by policy support and consumer appeal. Electric two- and three-wheelers will lead sales, while battery demand surges from 19 GWh to 362 GWh. The domestic component market is expected to reach Rs 3,02,000 crore.