Electric Vehicle Market in India & Growth - Quarterly Reports

India observed a growth of approximately 20% in the count of battery-operated electric vehicles from Dec’22- till April ’ 23. The number of total EVs registered in India during this period increased by more than 6 Lakhs approximately. As of 7 Dec,2022 the total number of EVs registered in India were 1,802,967 which increased to a count of 2,467,535 as of 7 May,2023. As per Eninrac EV visionboard the total EV fleet in India would hover b/w 34-36 lakhs by Mar’24 under the base case scenario.

Some of the most exciting developments that relates to the growth of electric vehicles in India is the small format mobility that includes electric two & three wheelers. Cumulatively both e-2W & 3W commands 95% of the total EVs share in the country. For e-2Ws much of the demand is witnessed by low to medium income group people, fleet aggregators that deals in – last mile deliveries, bike taxis etc. such as Zepto, Blink it, Zomato,Swiggy, Ola, Uber etc. For the e-3Ws, a lot of demand is observed for the e-rickshaws from the riders due to its affordability. Also, with the increase in ecommerce options, e-bulk order home deliveries etc. - many such service providers have also started adopting e-3W good carriers for meeting door to door deliveries of bulk items.

• Track of EV sales in India (e2W,3W,4W,buses & commercial)
• Track of operational EV charging stations (fast & slow charging stations)
• Price & Cost benchmarking - EVs, EVCI, batteries, chargers
• Track of EV component imports
• Competitive profiling of Indian states for EV value chain
• Competitive profiling of OEMs
• Competitive profiling of players providing charging infra - EVCI, EVSE
• State wise policy compendium
• Investments & Expansions
• Industry outlook

• First hand sector knowledge and inputs
• Primary research inputs from F2F interviews with domain experts
• Experts insights and market reviews taken into consideration
• Validated data and analysis
• Opportunity mapping and market sizing
• Germinates from minds that think fresh to evolve path finding guide for all stake holders through quality information and analysis
• Free query handling and analyst support for three months from the date of report procurement

• Given the average monthly addition in the registrations of EVs in India from Dec’22 to Mar’23, the total EV fleet may hover between 34-36 Lakhs by Mar’24
• Mega tender of INR 5000 crores released for deploying 4675 electric buses across Delhi, Karnataka & Telangana by end of FY2023
• Olectra Greentech to deliver 550 e-buses in India by the end of FY2023
• India targets to add 7500 fast DC public charging points for electric vehicles by end of FY2023
• Statiq to install 2000 EV charging stations across India by end of FY2023
• Ather Energy plans to install 2500 EV fast charging stations across India by end of FY2023

• Business case for expanding electric vehicles market in India with factored growth trends for automobile industry in the country
• Examination of geographical presence of automobile manufacturers in India and its impact of developing the electric vehicle market
• Examining electric vehicle inclusive transportation matrix scenario
• Evaluating market dynamics and positioning of electric vehicle index
• Examining the sales preposition of electric vehicle market in India
• Identifying the city /state level wise incentivizing index for electric vehicles in India
• Evaluating Opportunity for EV/Automakers
• Analysing Opportunity for Supply Chain Players
• Identifying business opportunity in charging infrastructure segment
• Identifying business opportunity in Power Generation segment
• Examining opportunities for battery manufacturers and allied value chain players

• Automobile OEMs (2W, 3 W & 4 W developers)
• Power distribution companies
• PSUs in Power Generation Business
• IPPs
• Smart Grid & Smart City Operators
• EV Charger Suppliers
• EV Charging Station Set up providers
• EV Manufacturers
• Battery Manufacturing OEMs in India
• Power Project Funding Bodies
• Foreign Collaborating Agencies
• Utility Solar Power Project Developers
• Government & Regulatory Bodies
• Research Institutions/Bodies
• Funding Bodies/Banks

• Mahindra
• Tata Motors
• Honda
• BMW
• Mercedes
• Maruti
• Suzuki
• Nissan
• Hyundai
• KPIT
• Renault