Driven by bold targets, booming demand, and a charging revolution reshaping the future of green mobility, India is racing towards 123 million EVs by 2032, say reports.
India may have up to 123 million electric vehicles (EVs) on its roads by 2032 under the most ambitious scenario, according to a report released by the India Energy Storage Alliance (IESA) and Customised Energy Solutions (CES). The study highlights the nation’s strong shift towards sustainable transport to meet its net-zero carbon target by 2070.
The report underscores the role of electric mobility in achieving the government’s goal of 30 per cent EV penetration by 2030. Rapid growth in the EV sector has been driven by favourable policies such as the FAME-II scheme, which offers financial incentives for electric two-, three-, and four-wheelers, along with subsidies for public charging stations.
This progress aligns with the National EV Targets scenario, which is built on the EV30@30 goal. The vision aims for 80 per cent EV adoption among two- and three-wheelers, 30 per cent among private cars, 70 per cent among commercial cars, and 40 per cent for buses by 2030.
The report, India Electric Vehicle Charging Infrastructure Market Overview, revealed that in 2024, over 93 per cent of EVs on Indian roads were two- and three-wheelers. Personal electric four-wheelers made up around 6 per cent, while buses and trucks remained below 1 per cent.
Vinayak Walimbe, CES Managing Director, stated that EV numbers could vary significantly—from 49 million in a low-adoption case to 123 million under ideal conditions. Charging infrastructure must also expand, from around 76,000 points in 2024 to as many as 2.1 million by 2032.
The report also estimates India will need a charging capacity increase from 1.3GW to as much as 23GW. This expansion will be critical to support a surge in electric cars, buses, and trucks, especially those requiring high-capacity fast charging. With sustained investment and support, India is on course to become a global leader in green transport.
