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.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

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 Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..