IESA Report Details EV Growth Prospects In India News24 –

A recent report has elucidated that the number of operational Electric Vehicles In India would likely cross about 28 million mark by 2030. The figures have been reported by The India Energy Storage Alliance (IESA) in a recent report. 

India has been continuously working on implementing new approaches that can lead it to its decarbonization journey. The rapid increase in sales of EV’s that has been supported by states policies, subsidies and demand and supply incentives. Such forward thinking has helped the nation inch closer to the over all goals. The Growth has further been aided by the developing charging infrastructure and customer awareness about the benefits of having EV Vehicles- as was reported by IESA.

The Overall outlook for for electric vehicle sales continues to be positive. Such positivity has been kindled by the growing environmental awareness, customer interest, country’s enabling attitude towards battery production and battery technology along with EV charging infrastructure. 

As per IESA, a leading alliance Focused on E mobility , energy storage and hydrogen powered powertrain production indicate that the cumulative number of EV’s in operation would most likely cross 28 million units in 2030. Generating a significant demand for Energy grids. 

Other data revelations by report indicate that 83 % of the annual sales would be from electric two wheelers, 10 % would be Electric Four wheelers and commercial vehicles such as trucks, Buses and beyond that electric three wheelers would contribute to about 7% sales. 

As per Ninayak Walimbe – Managing Director at Customized Energy Solutions PVTLTd India and president IESA emphasised

“India has witnessed a substantial rise in the electricity consumption, reaching 1,543 TWh in 2023-24 (7 per cent increase over last year).”

He noted that according to the Central Electricity Authority (CEA), electricity consumption at public charging infrastructure was 465 GWh during April-October 2024, which has more than doubled compared to 204 GWh in 2022-2023.

Additionally, he said that with the majority of EV users opting for the convenience of home charging, IESA estimate of energy demand for EV charging in FY 2024-2025 is 4,000 GWh and it is likely to increase to 38 TWh by FY32 with maximum power demand estimated at 366.4GW.

To accommodate the growing number of Ev’s in India the total installed capacity is required to grow from 466 Gw in January 2025 to 900 GW by 2023. 

The aggregate number would include about 500 GW electricity that has been derived from renewable sources such as wind, small hydro, and others.