South and Southeast Asia to Invest Over $20 Billion in EV Development

04 Nov 2024 CW Team

A recent report by S&P Global Ratings projects that South and Southeast Asia will invest over $20 billion in electric vehicle (EV) development in the coming years, with India poised to attract significant EV-related investments. The report highlights India's vast market potential as a key driver for this growth.

According to the report, the Tata and JSW groups are expected to invest over $30 billion in EVs and EV materials over the next decade, with approximately $10 billion allocated specifically for projects in South and Southeast Asia.

The adoption of electric vehicles in India is anticipated to gain momentum with the launch of new models that align pricing more closely with internal combustion engine (ICE) vehicles, coupled with advancements in charging infrastructure. The S&P estimates indicate that hybrids and vehicles powered by compressed natural gas (CNG) will also capture a "meaningful market share" alongside EVs in both light-vehicle and passenger commercial vehicle segments. The report emphasizes that the transition from ICE vehicles in India will initially focus on a shift to alternative fuels rather than pure electrification.

Infrastructure Transport

30 Oct 2025

RVNL wins North Eastern Railway bridge project worth Rs 1.66 billion

Rail Vikas Nigam Limited (RVNL) announced on 27 October that it has emerged as the lowest bidder (L1) for a significant infrastructure project awarded by the North Eastern Railway, as part of its routine business operations. The project involves the construction of the substructure for Important Bridge No. 50, which will comprise 14 spans of 61 metres each. It will feature a Double D-type well foundation designed for a double line and adhere to the RDSO 25T axle loading standard. The bridge will be built over the river Gandak, situated between Paniyahwa and Valmikinagar stations, as part of ..

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Railway Board approves new station at Nedumbassery airport

The Railway Board has approved the construction of a new railway station at Nedumbassery, fulfilling a long-standing demand from air passengers using the Cochin International Airport. Union Minister George Kurian’s office announced on Wednesday that the decision marks a major step towards enhancing rail connectivity to the airport, which serves as one of southern India’s key transport hubs. According to the statement, Kurian had earlier met Railway Minister Ashwini Vaishnaw, who assured him that the project would be expedited. The plan gathered momentum following Vaishnaw’s visit last ..