India is on the brink of a transportation revolution. The electric vehicle (EV) market in the country is set to explode, with projections indicating that the number of EVs on Indian roads will reach a staggering 123 million by 2032.
This forecast comes from the latest report by the India Energy Storage Alliance (IESA) and Customised Energy Solutions (CES), titled India Electric Vehicle Charging Infrastructure Market Overview. The report not only highlights the rapid growth of EVs but also underscores the critical need for robust charging infrastructure to support this surge.
Table of Contents
The Driving Force Behind India’s EV Surge
India’s commitment to sustainable development and its ambitious net zero emissions target by 2070 are the primary drivers behind this EV boom. The government has set a bold target of achieving 30% EV penetration by 2030, a goal that aligns with global efforts to reduce carbon emissions and combat climate change.
The rapid increase in EV adoption is supported by strong government policies and incentives. The Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME-II) scheme, for example, offers demand incentives for electric two-wheelers, three-wheelers, and four-wheelers.
It also provides capital subsidies for the development of public charging infrastructure. These measures have created a favourable environment for EV manufacturers and consumers alike.
Explosive Growth in EV Numbers
The report reveals that India’s on-road lithium-ion EV population has grown nearly twelvefold in just five years, from 0.35 million in 2019 to 4.4 million in 2024. This rapid growth is a clear indicator of the country’s accelerating shift towards electric mobility.
Electric two-wheelers and three-wheelers dominate the market, accounting for over 93% of the EV stock in 2024. These vehicles are popular due to their affordability, efficiency, and suitability for urban commuting.
Electric four-wheelers, while currently representing only about 6% of the EV stock, are gaining traction, especially in the personal vehicle segment. Electric buses and trucks, though less than 1% of the total EV population, are expected to grow significantly as commercial fleets electrify.
The Crucial Role of Charging Infrastructure
A key factor in the success of EV adoption is the availability of reliable and accessible charging infrastructure. In 2024, India had approximately 320,000 private Type-2 AC chargers, mostly installed in residential areas. These chargers vary in capacity, with 70% being 3.3 kW units, 28% at 7.4 kW, and the remainder classified as high-capacity chargers ranging from 11 to 22 kW.
Public and captive charging points numbered around 76,000 in 2024, with a combined installed capacity of 1.3 GW. While AC chargers made up nearly half of these points, the installed capacity was dominated by CCS2 chargers, reflecting the growing demand for high-power DC fast charging.
The IESA-CES report projects that to support the expected EV growth, India’s charging infrastructure will need to expand dramatically. The number of charging points is expected to increase 12 to 28 times by 2032, reaching between 0.9 million and 2.1 million points. Installed charging capacity will need to grow more than 17 times, from 1.3 GW to as much as 23 GW.
Future Projections: EV Stock and Infrastructure by 2032
| Scenario | Total EVs (Million) | Electric 4-Wheelers (Million) | Electric Buses & Trucks (Thousands) | Charging Points (Thousands) | Installed Capacity (GW) |
|---|---|---|---|---|---|
| Worst Case | 49 | 4.3 | 450 | 900 | 12 |
| Business-as-Usual | 60 | 5.8 | 750 | 1,500 | 18 |
| NEV Scenario (EV30@30) | 123 | 10 | 1,100 | 2,100 | 23 |
The NEV scenario, which aligns with the EV30@30 ambition, assumes that by 2030, EV penetration will reach 80% for electric two- and three-wheelers, 30% for private electric four-wheelers, 70% for commercial cars, and 40% for electric buses. This scenario represents the most optimistic outlook and reflects India’s potential to become a global leader in electric mobility.
Industry Perspectives
Vinayak Walimbe, Managing Director of Customized Energy Solutions India Pvt Ltd., highlights the transformative potential of this growth:
“By 2032, India’s on-road EV stock could reach approximately 123 million under the NEV scenario, fully aligning with NITI Aayog’s vision for transport electrification.”
Debmalya Sen, President of IESA, emphasizes the infrastructure challenge:
“To support the projected EV growth, India’s cumulative installed EV charging points—public and captive—will need to grow nearly 12 to 28 times, and installed charging capacity must scale more than 17 times.”
Environmental and Economic Impact
The rapid adoption of EVs will have a profound impact on India’s environment and economy. By reducing reliance on fossil fuels, EVs will help lower greenhouse gas emissions and improve air quality in urban areas. This shift is crucial for India to meet its climate commitments and protect public health.
Economically, the EV boom is expected to create new jobs and stimulate growth in sectors such as battery manufacturing, vehicle production, and charging infrastructure development. It will also reduce India’s dependence on imported oil, enhancing energy security.
Challenges Ahead
Despite the promising outlook, several challenges remain. Scaling up charging infrastructure to meet demand will require significant investment and coordination between government, industry, and utilities. Battery technology and supply chain issues must be addressed to ensure affordability and availability. Consumer awareness and confidence in EV technology also need to grow.
Conclusion
India’s electric vehicle market is on a remarkable growth trajectory, driven by strong government support, technological advancements, and increasing consumer acceptance.
The IESA-CES report paints a promising picture of a future where EVs dominate Indian roads, supported by a vast and efficient charging network. This transformation will not only help India meet its climate goals but also boost economic growth and energy security.
With strategic investments, policy support, and continued innovation, India is poised to lead the global electric mobility revolution. The road ahead is challenging but full of opportunity — a true game-changer for sustainable transportation.
