EV adoption in India to reach 9% by FY30
What's the story
A recent report by Nomura predicts a major jump in electric vehicle (EV) adoption in India, with penetration rising from the current 2% to 9% by FY30.
The forecast comes as part of a larger transition toward sustainable and eco-friendly mobility solutions.
The report notes that "EV penetration in cars, which has been around approx. 2% over past two years, is set to increase to approx. 5%/9% by FY27/FY30F."
Two-wheeler growth
Electric 2-wheeler adoption also set to rise
The Nomura report also predicts an increase in the adoption of electric two-wheelers.
The penetration rate for these vehicles is likely to grow from 5.8% in FY25 to 10% by FY27, and then to 20% by FY30.
This trend highlights India's commitment to sustainable transportation solutions and is in line with global efforts toward cutting down carbon emissions.
Industry impact
EV success crucial for automakers' future sustainability
The report stresses that success in the EV segment is critical for automakers to comply with future Corporate Average Fuel Efficiency (CAFE) norms and remain competitive and sustainable in the long run.
To push adoption, companies are now concentrating on building production-ready, affordable EV models.
This shift in strategy is reflected in events like the recently concluded Bharat Mobility Expo 2025, which highlighted India's evolving automotive landscape toward electric mobility.
Technological progress
Auto Component Expo highlights advancements in EV technology
The Auto Component Expo also emphasized advancements in newer technologies like Advanced Driver Assistance Systems (ADAS) and EV components.
Suppliers are now eyeing integrated solutions such as 3-in-1, 5-in-1, and 7-in-1 axles for four-wheelers and two-wheelers.
These innovations will make EVs more efficient and affordable, further driving their adoption in India.