India is on the cusp of a transformative shift towards electric mobility, with the potential to create a $1.2 trillion economy by 2030, according to a groundbreaking report by Praxis Global Alliance. The report, titled “ELECTRIFY30: The Future of Mobility,” provides a comprehensive blueprint for India’s electric vehicle (EV) future, highlighting the country’s immense potential in this burgeoning sector.
The report predicts that electric vehicles will account for a substantial 20% of the overall mobility market by 2030, driven by a confluence of factors including growing environmental concerns, supportive government policies, and rapid advancements in EV technology. This exponential growth is expected to generate millions of green jobs and contribute significantly to India’s economic development.
A key highlight of the report is the burgeoning electric mobility services sector, which is projected to reach a valuation of $144 billion by 2030. This includes ride-sharing, car-sharing, and other shared mobility services powered by electric vehicles. Such services will not only reduce traffic congestion but also improve air quality in urban areas.
To fully realize the potential of the electric vehicle ecosystem, the report emphasizes the need for robust charging infrastructure, affordable battery technology, and supportive policies. It also calls for increased investments in research and development to enhance indigenous EV capabilities.
Praxis Global Alliance’s ELECTRIFY30 report serves as a valuable resource for policymakers, investors, and industry stakeholders, providing actionable insights to accelerate India’s transition to a sustainable and electrified future.
