According to a joint report by IESA (Energy Storage Union of India) and CES (Customized Energy Solutions), India will receive 123 million electric vehicles (EVs) in 2032, and by 2032, India will be strengthened in incentives for the National Electric Vehicle Target (NEVs).
The report estimates that India's cumulative river lithium-ion electric vehicle (EV) population has increased nearly twelve times, from 350,000 in 2019 to 4.4 million in 2024.
Supportive government policies such as the II FAME-II program drive this rapid growth by providing demand incentives for electric two-wheelers, tricycles and quad bikes, as well as capital subsidies for publicly charged infrastructure.
It is further emphasized that electric two-wheelers and tricycles together account for more than 93% of Indian onshore electric vehicle stocks in 2024. By comparison, electric quads are about 6%, while electric buses and trucks are less than 1%.
It is worth noting that the personal electric quad bike (E4W) sector has become a key driver of the country's expanding private and home charging ecosystem.
According to the report, there are approximately 220,000 personal electric quad bikes (E4W) on the road in 2024, most of which depends on the Type 2 AC charger installed in residential areas.
By the same year, India had an estimated 320,000 private 2 AC chargers, of which 70% were 3.3 kW units, 28% were 7.4 kW units, and the remaining 11-22 kW units were classified as high capacity.
India has approximately 76,000 cumulative public and captive charging points in 2024 with a total installed capacity of 1.3 gw.
Although AC-001 chargers account for almost half of all installation points, overall installation capacity is dominated by CCS2 chargers, reflecting the growing demand for fast charging of high-power DCs.
Commenting on the report, IESA President Debmalya Sen said: “To support the projected EV growth, we can expect that cumulative installation of EV charging points (public and captive) in India will require nearly 12 to 28 times, from 76,000 times in 2024 to between 9 million and 2.1 million, and the scaling range is 1.23 times in 2032 and infrastructure utilization.”
Vinayak Walimbe, managing director of Custom Energy Solutions India PVT Ltd., said: “The NEV scenario is based on the EV30@30 ambition, assuming that by 2030 EV penetration reaches 80% electric two-wheelers, 80% private electric four-wheelers for private four-wheelers, 70% commercial cars, and 40% commercial cars, while Electric and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electrics and Electric
By 2032, in the worst-case scenario, EVs are expected to reach around 4.3 million, 5.8 million and 10 million electric quad bikes, respectively, as usual (BAU) and new energy tool (NEV) schemes.
In addition, electric buses and trucks can grow to about 450,000, 750,000 and 1.1 million. These two components are a key driver of the demand for captive and public charging infrastructure, especially for high-power DC fast charging.
