India May Have 123 Million EVs on Roads by 2032: Report

13 May 2025 CW Team

India could have one hundred twenty-three million electric vehicles (EVs) on its roads by 2032, as per a joint report by India Energy Storage Alliance (IESA) and Customized Energy Solutions (CES). This surge is attributed to the incentives under the National Electric Vehicle Targets.

Between 2019 and 2024, India's on-road lithium-ion EV population rose from 0.35 million to 4.4 million. This growth has been driven by schemes like Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME-II), which provides demand incentives for various EV types and subsidies for public charging.

In 2024, more than ninety-three per cent of EVs on Indian roads were electric two- and three-wheelers. Electric four-wheelers accounted for six per cent, and buses and trucks made up less than one per cent.

India had around seventy-six thousand public and captive charging points with a combined capacity of 1.3 gigawatts. AC-001 chargers formed nearly half of these, but high-power CCS2 chargers dominated capacity.

The report also noted around two hundred twenty thousand personal electric four-wheelers using mostly 3.3 kW Type-2 AC chargers at homes.

By 2032, the number of chargers may rise up to 2.1 million, with capacity scaling to 23 gigawatts.

Source:Zee Business

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