IESA (India Energy Storage Alliance), a leading organisation associated with e-mobility, energy storage, and hydrogen, projects that the number of operational EVs in India will cross 28 million in 2030. India’s total EV sales were over 4.1 million units in the fiscal year 2023-2024.
The future of electric vehicle sales seems brighter, driven by increasing environmental awareness, demand for electric vehicle infrastructure, battery technology advancements, and easily accessible EV charging infrastructure.
IESA stated, “It is predicted that 83 per cent of the annual sales would be e-2 wheelers, 10 per cent would be e-4 wheelers, and commercial vehicles, such as trucks, buses while three-wheelers would contribute to 7 per cent of sales.”
Vinayak Walimbe, the MD of Customised Energy Solutions Pvt Ltd India and Interim President of IESA shared that the country went through a significant rise in electricity consumption, reaching 1,543 KWh in 2023-24.
He said according to the CEA (Central Electricity Authority), electricity consumption was 465 GWh for public charging infrastructure between April and October 2024. This is double the amount of 204 GWh between 2022-2023.
According to the IESA report, the cumulative installed capacity in India needs to grow to 900 GW by 2032 from the current 466 GW. This includes 500 GW of renewable sources like wind, small hydro, etc.
