EVs, a ₹3-lakh crore opportunity in India, says CRISIL

The emergence of electric vehicles is an opportunity for both existing and new industry participants to innovate and take advantage of the rapidly evolving passenger and freight mobility, said Jagannarayan Padmanabhan of CRISIL.

The emergence of electric vehicles is an opportunity for both existing and new industry participants to innovate and take advantage of the rapidly evolving passenger and freight mobility, said Jagannarayan Padmanabhan of CRISIL.

Electric vehicles (EVs) offer an opportunity of nearly ₹3 lakh crore for various stakeholders in India in the five years to fiscal 2026, CRISIL said.

The opportunity includes potential revenue of approximately ₹1.5 lakh crore across vehicle segments for original equipment manufacturers (OEMs) as well as parts manufacturers and ₹90,000 crore in the form of vehicle lender payouts, with shared mobility and insurance accounting for the balance.

Hemal Thakkar, director of CRISIL, said: “Given the increasing cost parity and the government’s focus on vehicle electrification, we should not be surprised if electric vehicle penetration is 15% in 2Ws, 25-30% in 3Ws and 5 % in cars and buses by fiscal 2026 in terms of car sales.”

Jagannarayan Padmanabhan, director of CRISIL, said: “In short, the emergence of EVs is an opportunity for both existing and new industry participants to innovate and take advantage of the rapidly evolving passenger and freight mobility.”

“To address the ecosystem challenges of the EV industry, the government is considering rolling out a structured battery swap policy. Such facilities will make a major contribution to realizing the EV potential. In addition, improving the availability of financing will boost the adoption of electric vehicles,” he added.

www.thehindu.com

Leave a Reply

Your email address will not be published.