The electric vehicle and ancillary industry in India is set to get a new charge with substantial investments of around USD 40 billion in the next five to six years said a report titled ‘EVs in India: Renewed Vigour in Electric Mobility’ by Colliers.

The vast majority of investments, constituting 67 percent (USD 27 billion) of the total investments planned, will be in the manufacturing of lithium-ion batteries, followed by OE and EV manufacturing at USD 9 billion (23 percent) and others accounting for USD 4 billion (10 percent).

The report observes that the despite slower than anticipated EV adoption, the investment commitments have grown 3X in the last three years.

Share of planned investments for EV over the next 5-6 years

The planned investments will also see a spill over effect on multiple real estate opportunities from manufacturing to showrooms to even EV charging infrastructure. The report estimates that almost 45 million square feet of real estate would be required by 2030 for charging infrastructure alone.

On the other hand, while the penetration of electric vehicles in the country is lower single digit, it is estimated to reach around 8 percent by 2024, which translates to sales of almost 2 million green vehicles.

Growth required in EV sales to achieve 2030 targets

Note: Penetration refers to share of EV registrations in overall vehicle registrations | 2024 data is estimated on basis of data till Oct 2024. Source: Ministry of Road Transport & Highways, Niti Aayog, Colliers, Industry

Badal Yagnik, CEO, Colliers India said, “Although the demand for EVs has picked up in recent years, the target of achieving 30 percent penetration by 2030 looks like an uphill task. While demand and supply incentives will continue to play a pivotal role in faster adoption of EVs, a multifold increase in EV sales can be fast-tracked by the reduction in production costs and improving affordability with respect to EV price points. Additionally, high-capacity original equipment manufacturing units and large-scale production of lithium-ion battery variants must be high on the EV priority list.” 

Vimal Nadar, Senior Director and Head of Research, Colliers India, said, “Accelerated growth in the EV industry is bound to positively impact the Indian real estate sector. Supported by supply-side incentives from the government, leading developers are likely to increase their focus on state-of-the-art warehouses. Additionally, over 45 million sqft of real estate will be required for building extensive network of public charging stations over the next 5-6 years. Residential and commercial developers too are likely to increasingly integrate dedicated charging stations and parking spots for EVs within their projects. Such practices will provide a competitive edge, aligning with the requirements of corporate occupiers and homebuyers.”

Nashik-based electric two-wheeler manufacturer Jitendra New EV Tech has inked a strategic partnership with Battery Smart, one of India's largest and fastest-growing battery-swapping networks for electric two- and three-wheelers.

As part of the understanding, Jitendra New EV Tech will integrate Battery Smart’s battery-swapping technology in its two-wheelers. This will allow Jitendra New EV Tech customers to access Battery Smart’s network of over 1,400 battery-swapping stations in more than 40 cities in India. In addition, the e-scooters will also become more economically accessible as the upfront cost of batteries will be done away with.

Samkit Shah, Co-Founder and CEO, Jitendra New EV Tech, said, "At Jitendra EV, we continuously strive to enhance the ownership experience for our customers. Our collaboration with Battery Smart aligned perfectly with our vision to offer sustainable, reliable, and future-ready mobility solutions. This partnership will help us accelerate EV adoption in India and make electric vehicles more accessible to a broader audience."

Prateek Joshi, Senior Director – Partnerships, Battery Smart, added, “Our partnership with Jitendra EV is a significant step towards making electric mobility more accessible. By integrating our battery swapping network with their electric two-wheelers, we aim to simplify the EV ownership experience, reduce charging time, and enhance affordability. Together, we are accelerating the electrification of two-wheelers across India, helping more riders seamlessly transition to sustainable electric mobility."

Charge Zone, a leading electric vehicle (EV) charging network company, has announced that it has set up supercharging stations on the Bengaluru-Chennai and Bengaluru-Hyderabad national highways.

The EV charging stations feature 1.2MW capacity with solar microgrid integration and 1MWh usable capacity of battery energy storage systems, which the company said will ensure 24x7 EV charging availability. The DC fast chargers with capacities ranging from 180 kW to 240 kW have been strategically placed every 150-200 kilometres. They will complement the existing regular EV chargers along the route.

Kartikey Hariyani, Founder & CEO, Charge Zone, said, “The launch of these mega supercharging stations represents a transformative step in advancing India's EV ecosystem. By equipping the Bengaluru-Chennai and Bengaluru-Hyderabad highways with state-of-the-art charging technology, we are bridging critical infrastructure gaps and redefining the long-distance EV experience. These stations embody our vision of seamless, sustainable, and efficient electric mobility, empowering drivers to embrace a cleaner future without compromise.”

Ravindra Mohan, Director, Charge Zone, added, “But, it is battery energy storage with renewable energy integration that makes the Indian e-mobility ecosystem go further in terms of achieving net-zero emissions."

As per the company, the charging time at these stations will be optimised, with vehicles achieving 80 percent charge in as little as 30 minutes. Going forward, Charge Zone has a target to establish 100 supercharging stations with a combined 240 kW capacity.

PURE EV, one of India’s leading electric two-wheeler manufacturers, has launched the X Platform 3.0. powered by advanced AI technology, upgrading its existing platform and delivering advanced features aimed at improving vehicle performance, connectivity and overall rider convenience.

With real-time updates on important vehicle parameters like battery health and range, the platform empowers passengers with information for a hassle-free journey, all while improving consumer convenience. With all of these characteristics combined, the X Platform 3.0 represents a major breakthrough in electric vehicle (EV) technology and a new benchmark for industry innovation. With a 25 percent increase in torque and overall performance, Thrill Mode is one of the most notable additions to the X Platform 3.0, providing customers with an even more thrilling riding experience. This function is intended for people who want a strong, dynamic driving that raises the bar for electric car performance.

Advanced Predictive AI, a technology that learns from rider behaviour and adjusts to different riding situations, is also included into the platform. Based on the idea that ‘Prevention is Better than Cure’, this feature prioritises dependability and guarantees 100 percent vehicle uptime by spotting and fixing possible problems before they become serious. When used in conjunction with Cloud AI, the platform offers over-the-air updates and enhancements, maintaining the software of the vehicle current and performance-optimised. The Next-Generation TFT Dashboard, which effortlessly integrates with iOS and Android devices, is another feature that sets the X Platform 3.0 apart. A variety of clever features, such as range predictions, battery health updates and real-time navigation maps, are available on this contemporary dashboard to provide riders access to all the information they need.

New Gen Smart AI Based Vehicle Control Unit, regenerative braking, coasting regen, improved electric breaking system, quick throttle response and a highly efficient powertrain are just a few of the features that will be added to this advancement, which builds on the success of its predecessor platform and is expected to completely change the electric two-wheeler industry's customer experience. PURE EV's premium models, the ePluto 7G Max and eTryst X, will be the first to provide the X Platform 3.0. By the end of CY 2025, all other models are expected to follow. The launch of the X Platform 3.0 is in line with PURE EV's mission to set the standard for intelligent and sustainable mobility solutions, therefore establishing EVs as a necessary component of daily life.

Dr Nishanth Dongari, Founder and MD, PURE EV, said, "With the introduction of X Platform 3.0, we are stepping into the next phase of the electric mobility revolution by seamlessly integrating advanced AI technologies. This platform is unique to PURE EV and represents our ambition to take Indian innovation to a global stage. We envision our vehicles not just as modes of transport but as intelligent, connected devices that redefine the very concept of mobility, providing an exceptional driving experience for our customers."

Ather Energy, a leading electric two-wheeler manufacturer in the country, has introduced multi-language dashboard interface for its family e-scooter the Rizta.

With this, the EV maker becomes the first two-wheeler maker to provide 8 regional language support - Hindi, Marathi, Gujarati, Bengali, Tamil, Telugu, Malayalam and Kannada - on an electric two-wheeler.

With this the company will expand its EV userbase to interact with the Rizta in a language convenient for the customers.

Ravneet Singh Phokela, Chief Business Officer, Ather Energy, said, “Since the beginning we have designed and built our technology and products from the ground up, keeping the needs of Indian consumers in mind. Our aim has always been to deliver quality user experiences that make our scooters more engaging. Given India’s rich diversity, and the pride that people take in their regional languages, our intent was to make our scooters more user friendly. We believe the multi-language dashboard would allow the riders to personalise their scooters in the language of their preference.”

The company will introduce the multi-language dashboard as an over-the-air (OTA) software update to the AtherStack for existing and new Rizta Z owners.