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.

Equipment

11 Dec 2025

Caterpillar Debuts Three New Cat Excavators at EXCON 2025

Caterpillar Inc., a global leader in construction and mining machinery, strengthened its commitment to India’s infrastructure growth with the debut of three new Cat® hydraulic excavators at EXCON 2025, held from December 9–13 at the Bangalore International Exhibition Centre. The new models—Cat 321, Cat 322 and Cat 324—mark a significant step forward in delivering efficient, digital-ready equipment tailored for India’s evolving construction needs.Designed to support sustainability and productivity on modern jobsites, the machines feature advanced powertrains and intelligent electrohy..

Equipment

11 Dec 2025

JK Tyre Expands OTR Lineup with Four New Launches at EXCON 2025

JK Tyre & Industries, one of India’s leading tyre manufacturers, introduced four new Off-the-Road (OTR) tyres at the 13th edition of CII EXCON 2025, South Asia’s largest construction equipment exhibition, underway at the Bangalore International Exhibition Centre. The latest additions strengthen the company’s OTR portfolio and reaffirm its focus on delivering advanced mobility solutions for construction, mining and industrial operations.The new tyres were unveiled by R Mukhopadhyay, Director (R&D), JK Tyre. Among the highlights was the debut of the SKY GRIP, a specialised tyre des..

Equipment

11 Dec 2025

ACE, Sanghvi Movers Ink MOU to Boost India-Made Heavy Crane Adoption

Action Construction Equipment (ACE), the world’s largest pick-and-carry crane manufacturer and a leading Indian construction equipment maker, has entered into a strategic Memorandum of Understanding with Sanghvi Movers, Asia’s largest and the world’s fifth-largest crane rental company. The partnership aims to accelerate the deployment of indigenously manufactured heavy slew cranes, particularly truck cranes and crawler cranes, across large-scale infrastructure and industrial projects in India.The alliance aligns strongly with the Government of India’s “Aatmanirbhar Bharat” and “M..