India Leads Electric Vehicle Revolution in Asia

24 Sep 2024 CW Team

In 2023, India became the largest consumer of electric three-wheelers, selling 580,000 units—60% of global sales and marking a 65% year-over-year increase. The country also ranks second globally in e-scooter sales, with 880,000 units sold, a 40% rise from the previous year.

Private investment and supportive policies, such as the Faster Adoption and Manufacturing of Electric Vehicles (FAME II) scheme, have been pivotal in this transition. However, ongoing investment in battery swapping infrastructure and charging stations is crucial to address challenges like high upfront costs and range anxiety. The report projects that India could achieve 40-50% electrification in the three-wheeler sector by 2027.

The shift from internal combustion engine (ICE) vehicles to electric models offers significant economic and environmental advantages. For frequent commercial users, EVs can enhance income by 20%, while contributing to a quieter, more comfortable ride. Moreover, electrifying the three-wheeler segment could reduce CO2 emissions by 1.65 million tonnes over the lifecycle of 100,000 vehicles.

To sustain this momentum, the report highlights the importance of scaling manufacturing capacities and developing innovative financing models. It calls for private capital markets to support low-income consumers and build a robust EV ecosystem. With increased infrastructure investments, India and other emerging markets are set to lead the next phase of global mobility transformation.

India is spearheading the electric vehicle (EV) revolution in emerging Asia, driven by substantial investments and rapid growth in the electric two- and three-wheeler markets. A report titled Powering an Affordable EV Revolution in Emerging Asia emphasizes the region's requirement for $1.3 trillion in capital by 2030 to enhance electric mobility and mitigate emissions. In 2023, India became the largest consumer of electric three-wheelers, selling 580,000 units—60% of global sales and marking a 65% year-over-year increase. The country also ranks second globally in e-scooter sales, with 880,000 units sold, a 40% rise from the previous year. Private investment and supportive policies, such as the Faster Adoption and Manufacturing of Electric Vehicles (FAME II) scheme, have been pivotal in this transition. However, ongoing investment in battery swapping infrastructure and charging stations is crucial to address challenges like high upfront costs and range anxiety. The report projects that India could achieve 40-50% electrification in the three-wheeler sector by 2027. The shift from internal combustion engine (ICE) vehicles to electric models offers significant economic and environmental advantages. For frequent commercial users, EVs can enhance income by 20%, while contributing to a quieter, more comfortable ride. Moreover, electrifying the three-wheeler segment could reduce CO2 emissions by 1.65 million tonnes over the lifecycle of 100,000 vehicles. To sustain this momentum, the report highlights the importance of scaling manufacturing capacities and developing innovative financing models. It calls for private capital markets to support low-income consumers and build a robust EV ecosystem. With increased infrastructure investments, India and other emerging markets are set to lead the next phase of global mobility transformation.

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Real Estate

17 Dec 2025

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

Real Estate

17 Dec 2025

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..