India needs 6.9K acre, $9 bn input by 2030 to set up EV infra: Report

Nearly 6,900 acre of land and USD 9 billion investments will be required by 2030 for setting up facilities for EV (electric vehicle) manufacturing, lithium-ion battery production and public charging stations, according to Savills India.

Real estate consultant Savills India has released report ‘Charged for Change: How EVs Are Reshaping Indian Real Estate’ stating that the EV market in India has witnessed significant growth in recent years, driven by market forces, government policies, rising environmental concerns, and increasing fuel costs.

“An investment of USD 7.5 to 9 billion will be required by 2030, primarily for land acquisition and the development of facilities for EV manufacturing, lithium-ion battery production, and public charging stations,” the consultant said.

In high-adoption scenario, the required investments will be USD 9 billion while USD 7.5 billion will be needed in the case of medium adoption.

The report further estimated 5,760 to 6,852 acres of land by 2030 to support EV manufacturing, lithium-ion battery plants, and public charging infrastructure. Srinivas N of Savilla said, “Aligning with India’s target of achieving 30 per cent EV penetration by 2030, the real estate sector is expected to experience significant growth.”