In a decisive move toward sustainable development and net-zero emissions by 2070, India is witnessing a dramatic surge in electric vehicle (EV) adoption, supported by robust government policies and incentives. A recent report titled “India Electric Vehicle Charging Infrastructure Market Overview,” jointly released by the India Energy Storage Alliance (IESA) and Customized Energy Solutions (CES), forecasts a transformative decade ahead for the country’s mobility and energy sectors.
According to the report, India’s EV stock has seen exponential growth—from just 0.35 million in 2019 to 4.4 million in 2024. By 2032, projections suggest the number could soar to 123 million under the National EV Targets (NEV) scenario, marking a key stride toward the government’s EV30@30 ambition, which aims for 30% EV penetration by 2030.
This electrification wave has been largely driven by the FAME-II scheme, offering demand-side incentives and capital subsidies for public charging networks. Notably, electric two- and three-wheelers accounted for over 93% of India’s EVs in 2024, while electric four-wheelers (E4Ws) made up 6%. The latter category is emerging as a vital contributor to the development of India’s private and home charging ecosystem.
Vinayak Walimbe, Managing Director of Customized Energy Solutions India Pvt Ltd., highlighted three potential growth scenarios: a Worst Case (49 million EVs), Business-as-Usual (60 million), and the NEV scenario (123 million), aligning with NITI Aayog’s transport electrification roadmap. Under the NEV outlook, EV penetration is expected to reach 80% for electric two- and three-wheelers, 30% for private E4Ws, 70% for commercial cars, and 40% for electric buses by 2030.
In 2024, India housed around 220,000 personal E4Ws, predominantly dependent on Type-2 AC chargers installed in residential settings. The country had an estimated 320,000 private chargers, with 70% being 3.3 kW units. Public and captive charging points stood at 76,000 with an installed capacity of 1.3 GW—dominated by AC-001 and CCS2 chargers.
However, the challenge lies ahead. IESA President Debmalya Sen emphasized the urgent need to scale up infrastructure: “India must grow its public and captive EV charging points from 76,000 to between 0.9 million and 2.1 million by 2032, with charging capacity increasing from 1.3 GW to 23 GW.”
By 2032, electric four-wheelers could number between 4.3 million and 10 million, while electric buses and trucks may rise to between 450,000 and 1.1 million. These heavy-duty segments are expected to be key demand drivers for high-power DC fast charging infrastructure.
India’s electric mobility ambitions are now firmly rooted in both climate goals and economic strategy. With strategic investments and sustained policy backing, the nation is on track to become a global EV leader, steering towards a greener and more prosperous future.
