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A recent study on electric mobility found that only 30% of total vehicles in India are likely to be electric by 2030. This is lower than the government’s hopes for electric vehicle sales. Minister Nitin Gadkari stated at an event in Oct 2021.
Arthur D Little’s study stated that the EV industry would have sales of 10 million vehicles by 2030 and an overall adoption rate greater than 30% for all vehicle types.
The study found that India could achieve a 50% adoption rate if it were to unlock its full potential. This would be possible if more than 17 million electric vehicles are sold by 2030.
The study concluded that this reflects the “true potential” of India’s EV industry if all parties come together to create a strong ecosystem.
In 2021, the first signs of this ‘full potential” were evident when EVs in India recorded the highest ever sales and a high month-on-month rate despite the negative effects of the Covid-19 pandemic on the supply chain.
Electric mobility will not only reduce their carbon footprint but also provide a higher income for logistics and e-commerce players. All participants agreed that subsidies from the government alone are not enough to create an electric mobility ecosystem. Copy-paste solutions from other countries will not help the Indian industry. India requires EV solutions that are specific to India.