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.”

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Chennai-headquartered electric two-wheeler manufacturer Raptee.HV has opened a new three-storey Experience Centre on Old Mahabalipuram Road in Chennai.

The facility was virtually inaugurated by the Chief Minister of Tamil Nadu, C. Joseph Vijay, marking an expansion of the electric motorcycle manufacturer's retail network in its home market.

The facility replaces the company's previous factory outlet, providing space for customers to view the electric motorcycle, inspect its 240-volt high-voltage architecture, engage with technical staff and conduct test rides.

Raptee.HV's operations are supported by an INR 250 million investment from the Tamil Nadu Industrial Development Corporation (TIDCO). Following initial retail footprint additions in Bengaluru and Chennai, the company plans to expand to Coimbatore, Kochi, and Hyderabad, while evaluating export opportunities in Sri Lanka, Brazil and Turkey.

"Chennai is where our journey began, and bringing Raptee.HV closer to our customers here is special to us. We have always believed that listening to our customers is as important as engineering the motorcycle itself. We are proud to be the No. 1 electric motorcycle manufacturer in Chennai, our home market, and look forward to building on this leadership. Our new flagship store is an important step in that direction, allowing us to strengthen our connection with customers while offering them the premium experience they deserve. We hope to continue growing alongside the city that has been at the heart of our journey," said Dinesh Arjun, CEO and Co-Founder, Raptee.HV.

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Hyderabad-headquartered electric commercial vehicle company Olectra Greentech has announced its financial results for Q2 of FY2027, recording revenue of INR 6.87 billion, a 5 percent increase compared to INR 6.56 billion a year ago.

The company reported an 18 percent increase in EBITDA to INR 1.09 billion, up from INR 930 million in Q2 FY2026. Profit Before Tax stood at INR 720 million compared to INR 684 million, while Profit After Tax reached INR 521.2 million, up 5 percent from INR 494.3 million.

In Q2 FY2027, the company delivered a total of 401 units, taking total first-half deliveries to 759 e-vehicles and cumulative deliveries past 4,750 units across 55 cities. The company said its electric buses have now cumulatively covered over 750 million kilometres. Furthermore, Olectra Greentech maintains an order pipeline of over 8,000 electric buses.

Mahesh Babu, Managing Director, Olectra Greentech, said, "Our Q2 FY2027 results reflect the continued strength of our business, with positive growth in revenue, vehicle deliveries and profitability. The 18 percent growth in EBITDA is particularly encouraging, reflecting our focus on operational efficiency and building a stronger foundation for the future. Building on this momentum, we are preparing to introduce our new generation Olectra electric buses, developed with a strong focus on localisation and designed for both domestic and international markets. Scheduled for launch in Q4 of this financial year, these buses represent an important step in our product innovation and expansion journey. Our progress is also reflected in the numerous awards we have received across various areas of our business, highlighting our achievements in innovation, sustainability and organisational excellence. These recognitions reflect the dedication of our teams and our commitment to continuously raising standards. As we move forward, our focus remains on driving innovation, expanding our capabilities and creating long term value while contributing to the future of sustainable mobility."

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CHARGEZONE has announced an expanded partnership with Ador-Quench to procure and deploy made-in-India DC fast chargers across 1,000 new supercharging locations in India. The deployment supports CHARGEZONE's target of reaching 300 MW in cumulative network capacity.

The rollout will feature Ador-Quench DC fast-charging systems ranging from 120 kW chargers to 480 kW dispenser systems. Built on a modular 30 kW AC-DC converter architecture, the equipment caters to passenger cars, electric buses and commercial trucks.

The 360 kW and 480 kW units are targeted at commercial fleet operations to support high energy throughput, while the 120 kW chargers will be installed along intercity routes and highways.

The infrastructure features an energy efficiency rating exceeding 96 per cent, forced-air cooling, and a digital CAN interface for monitoring system diagnostics. The units will integrate into ChargeCloud, CHARGEZONE's proprietary network management platform, to enable dynamic load management and predictive maintenance.

Kartikey Hariyani, Founder and CEO, CHARGEZONE, said, "India’s EV transition has reached a tipping point where charging infrastructure must perform for every vehicle type, from a family car on a weekend road trip to a 55-ton electric truck running 24/7. As EV adoption grows across both passenger and commercial segments, the next phase of infrastructure development has to address very different charging requirements. By partnering with Ador-Quench for Made-in-India superchargers, we are strengthening our ability to deploy high-power charging infrastructure suited to these needs, while supporting the expansion of our national network."

Ravin Mirchandani, Chairperson, Ador Powertron and Quench Chargers, said, "CHARGEZONE was our first-ever customer for fast chargers, and we are delighted to be supporting the growth of one of the most dynamic companies in this sector. We are particularly proud that these chargers are 100% Made in India, including the Rectifier and controller modules, reflecting our commitment to world-class indigenous technology and manufacturing."

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Rincell has announced that it expects to ship over 500,000 battery cells across its product portfolio by the end of 2026, driven by commercial adoption of its RC50 21700 cell. The company is actively supplying battery cells to customers across the US, Europe and India.

The RC50 cell combines a 5Ah energy capacity with a 25A continuous and 50A burst output, retaining 80 per cent of its capacity after 1,200 full charge cycles. The cell has achieved UN 38.3 certification for international transport, IEC 62133 compliance for European markets, and BIS certification for India.

Applications for the RC50 encompass medical X-ray equipment, industrial machinery, commercial drones, and electric two-wheelers. In India, battery pack manufacturer Autorev is integrating the RC50 into its battery packs for electric scooters and motorcycles.

Founded in January 2023, Rincell operates a 6,500 sqft pilot manufacturing facility in Fremont, California, while carrying out volume production primarily in India. The company is currently constructing a production facility in the US, which is scheduled to become operational in late 2027.

Jignesh Parikh, Co-Founder and CEO, Rincell, said, "The RC50 is our all-rounder. It combines high energy, high power and long life in one cell, driving adoption across a wide spectrum of demanding commercial markets and building major order traction. Delivering that level of performance consistently and at scale is where so much of the battery industry has struggled, and it is what Rincell was built to do."

Mohammad Ubeduddin, CTO, Autorev, said, "Electric two-wheelers are one of the toughest jobs a battery can do. Riders in India push their scooters and motorcycles hard every day, through heat and stop-start traffic, so our packs need range, punch and a long working life all at once. The RC50 gives us all three in a single cell, and it has performed consistently in our own testing. That is what lets us build packs our customers can rely on as India’s electric two-wheeler market scales."

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