India's EV Market Poised for 12x Growth to 30.4 Million Units by 2032

electric vehicles EV market India

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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.

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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.

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KonularEV market India IESA report battery demand component market NEV scenario

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