Demand for EV batteries in India likely to grow 10 times to 200 GWh by 2032: IESA
Industry body Indian Energy Alliance (IESA) has said that demand for electric vehicle (EV) batteries in India is anticipated to expand from 20 GWh in 2025 to 200 GWh by 2032, representing 10 times increase. Citing a study, it said the EV opportunity in India is no longer limited to vehicle manufacturing; the most significant strategic advantages may lie in component localisation and supply chain development as India positions itself as a global manufacturing hub.
In partnership with Customized Energy Solutions (CES), IESA is set to release the study report titled 'India EV & EV Component Market Outlook 2025-2034' at the 12th India Energy Storage Week (IESW), to be held from July 8-10 in the national capital. It stated India’s EV industry stands on the brink of a profound transformation. What began as a policy-driven transition is now maturing into a sprawling industrial ecosystem encompassing batteries, motors, power electronics, advanced chemistries, localised manufacturing, and robust supply chain investments.
Debmalya Sen, President of IESA, said ‘With India's EV market entering an era of unprecedented growth and battery demand projected to rise tenfold by 2032, the industry's next leap will be driven by localisation, advanced chemistry, and resilient supply chains.’
