Number of EVs on Indian roads likely to cross 28 million in 2030
The cumulative number of EVs on Indian roads will likely cross 28 million units in 2030, generating significant demand for energy from the grid, according to the India Energy Storage Alliance (IESA), a leading industry body focused on e-mobility, energy storage and hydrogen.
India's cumulative EV sales have crossed 4.1 million units in the fiscal year 2023-2024 and the future outlook for electric vehicle sales continues to be positive, driven by increasing environmental awareness, customer interest, advancements in Battery technology, and readily available and easily accessible EV charging infrastructure, according to an IESA statement.
“It is predicted that 83 per cent of the annual sales would be e-2wheelers, 10 per cent would be e-4wheelers, and commercial vehicles such as trucks, buses while three-wheelers would contribute to 7 per cent of sales,” IESA said.
India continues to make significant and sustained inroads in its decarbonisation journey, with the rapid increase in sales of electric vehicles, supported by demand and supply incentives, growing consumer demand, and a focus on developing charging infrastructure.
Vinayak Walimbe, president (interim), IESA said that India has witnessed a substantial rise in the electricity consumption, reaching 1,543 TWh in 2023-24 (7 per cent increase over last year).
"According to the Central Electricity Authority (CEA), electricity consumption at public charging infrastructure was 465 GWh from April to October 2024 which has more than doubled compared to 204 GWh in 2022-2023," he mentioned.
“Additionally, with the majority of EV users opting for the convenience of home charging, the IESA estimate of energy demand for EV charging in FY 2024-2025 is 4,000 GWh and likely to increase to 38 TWh by FY 2031-2032 with maximum power demand estimated at 366.4GW,” he added.
The Ministry of Power has prepared a National Electricity Plan, which is a comprehensive 10-year roadmap, crucial for advancing future strategies and helping ensure energy security. India is the third-largest producer and consumer of electricity in the world.
The National Electricity Plan forecasts total annual demand on the Indian power grid to rise to 2133 TWh by 2031-32 and as per IESA estimation, EV charging would likely constitute around 3 per cent of this demand.
According to the IESA report, the total installed capacity (of India) is required to grow from 466 GW in January 2025 to 900 GW by 2032. This includes 500 GW of renewable sources, wind, small hydro, and others (from 165 GW installed capacity in Jan 2025).
This plan serves as a blueprint to expedite the deployment of EV charging infrastructure to cater to future EV charging demand and increase charging stations to about 100,000 by 2030.
