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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JSW MG Motor India has announced that its MG Windsor electric SUV has surpassed 50,000-unit sales in just over a year.

The company stated that the Windsor is the first electric passenger vehicle in India to achieve this sales mark in record time, reinforcing its position in the country's EV segment. This sales rate translates to five units of the MG Windsor being sold every hour.

Demand for the EV has been observed across major metropolitan and non-metro markets, indicating customer readiness to adopt electric mobility solutions.

Anurag Mehrotra, Managing Director, JSW MG Motor India, said, “When we launched the Windsor EV, our mission was simple yet ambitious: to offer a mobility solution that is practical, stylish and value-driven – while accelerating the adoption of electric vehicles in India. The Windsor EV’s rapid success, achieving 50,000 sales in record time marks a landmark moment in India’s EV journey and demonstrates that customers are embracing this transition with enthusiasm. This milestone energises us to deepen our commitment to New Energy Vehicles. Our vision is to deliver exciting experiences every time and we will continue raising this benchmark as we shape the future of mobility in India.”

The MG Windsor, which the company markets as a CUV (Crossover Utility Vehicle), delivers 100 KW (136ps) of power and 200Nm of torque. It features an ‘AeroGlide’ design and an interior with 'Aero Lounge' seats and a large 15.6-inch Grandview Touch Display.

JSW MG Motor India recently launched the MG Windsor Inspire, a limited-edition series, which was unveiled by Nitin Gadkari, Minister of Road Transport and Highways of India.

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Mumbai-based startup ACS Energy has successfully secured INR 11 million in a pre-seed funding round. The investment was spearheaded by Inflection Point Ventures (IPV). This financial boost will enable the company to deploy over 5,000 new UPI-enabled EV charging stations across the key states of Maharashtra and Gujarat, enhancing accessibility for residential and commercial users alike.

ACS Energy (Ayka Control Systems Pvt. Ltd.) is tackling a critical gap in India's electric vehicle ecosystem by focusing on complex urban settings. The company specialises in developing charging solutions for high-rise buildings and large residential townships, an often underserved segment despite increasing regulatory mandates for EV infrastructure in new real estate projects.

Since its establishment in 2022, the startup has been a pioneer, introducing India's first UPI-based payment system for EV charging. This innovation eliminates the need for multiple mobile applications or subscriptions, creating a seamless, digital-first experience for users. Their product line includes universally compatible smart AC chargers for various vehicle types, supported by the proprietary ACS pay platform. The technology leverages artificial intelligence to effectively manage power loads and ensure swift, transparent transactions.

The founding team, Jash Sheth and Mihir Bhanushali, brings a strong blend of technical and engineering expertise to the venture. Sheth's background includes experience in India's nuclear power sector and involvement with other successful startup founding teams. Together, they are driving a vision to make sustainable mobility more practical and less cumbersome through intelligent infrastructure.

Beyond expanding its physical charging network, a portion of the new capital will be dedicated to advancing energy management systems. These systems are designed to bring smarter power distribution and sophisticated load balancing to urban buildings, promoting greater overall energy efficiency. Currently operating in cities such as Mumbai, Pune and Ahmedabad, ACS Energy is rapidly scaling its operations to build a robust network that connects city dwellers and emerging EV hubs.

Mitesh Shah, Co-Founder, IPV, said, “India’s EV revolution is incomplete without a strong support system fuelling its growth. The transition from fuel-based energy to green energy has to be more accessible and seamless. ACS Energy offers more than just a charger – it is a full hardware and software package that makes charging quick, transparent and hassle-free. Their UPI-based system means anyone can pay instantly, which makes EV charging as seamless as buying groceries.”

Jash Sheth, Founder & CEO, ACS Energy, said, “At a petrol pump, you don’t think twice – you just pay and move. EV charging should be just as simple. With India’s first UPI-enabled charging network, we’re bringing that same ease to the EV ecosystem. Alongside, we’re launching our AI-driven Energy Management Systems to help buildings and DISCOMs manage load intelligently. This fundraise will power our mission to simplify charging and optimise energy use across India.”

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Tata.ev, India's largest four-wheeler EV manufacturer, has partnered with charging operator Voltran to inaugurate 14 new high-speed Tata.ev MegaChargers across the states of Andhra Pradesh and Telangana, creating what the company calls the nation's first fully manned public EV charging stations.

The new charging hubs are strategically located on major intercity routes, including the Hyderabad–Bengaluru, Hyderabad–Vijayawada and Vijayawada–Chennai corridors, significantly boosting seamless long-distance electric vehicle travel in South India.

Each MegaCharger station is staffed 24x7 by trained marshals to ensure a 'fuel refuelling experience' for customers, offering reliability and service assurance. Crucially, the stations allow for payment via cash, card, or UPI post-charging, removing the need for an app for the transaction. They also feature air-conditioned lounges, clean washrooms, and multiple food options.

This latest rollout increases the Tata.ev MegaCharger network to over 70 operational sites nationwide, part of the company's 'Open Collaboration 2.0' framework to accelerate charging infrastructure. Tata.ev aims to introduce over 500 MegaChargers by 2027.

Balaje Rajan, Chief Strategy Officer, Tata Passenger Electric Mobility and Tata Motors Passenger Vehicles, said, "As the EV revolution continues its strong momentum, the demand for accessible, widespread, and reliable charging infrastructure has become increasingly critical. In partnership with Voltran, we’re proud to inaugurate 14 Tata.ev MegaChargers across Andhra Pradesh and Telangana — the first of their kind EV charging stations manned 24/7 by trained marshals. These fast-charging hubs connect major cities, enabling seamless EV travel across key locations in these states. With over 70 Tata.ev MegaChargers now nationwide, this milestone reinforces our commitment to fast, reliable, and fuel station-like charging experiences, driving effortless mobility across India.”

Raja Sekhar Upputuri, CEO, Voltran, said, "We are excited to partner with Tata.ev to launch our co-branded Tata.ev x Voltran MegaCharger Stations across all major highways in Andhra Pradesh and Telangana. These hubs are manned 24x7 and customers don't need an app to charge as they can pay with cash, card or UPI post charging. On top of that, all these hubs are equipped with air-conditioned lounges, clean washrooms and multiple food options. Together with Tata.ev, we reimagined the future of EV charging in India - fast, reliable & super convenient. We look forward to building upon this momentum and expanding it to more locations in the days to come.”

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Tesla held its first-ever public pop-up showcase in India at Ambience Mall in Gurugram, attracting thousands of visitors interested in the automaker’s electric vehicles and sustainability credentials.

Ambience Mall, which has become a platform for premium and international consumer brands, was selected for its modern infrastructure, high footfall and affluent customer base, according to the venue. Visitors were given a close look at the Tesla Model Y, marking the company’s initial public display in the city.

The mall authorties said the event reinforces its position as a preferred launch venue for global names entering or expanding in India with a history of hosting world-class brand showcases and firsts.

Hosting Tesla’s first-ever pop-up in India reaffirms our position as the preferred venue for premium international brands,” said Arjun Gehlot, Director of Ambience Malls. “Our space celebrates technology, design and sustainability, reflecting the aspirations of today’s consumers.”

Ambience Mall authorties said the showcase represents another milestone as it focuses on experiences at the intersection of retail, technology and lifestyle, catering to a growing Indian audience seeking innovative mobility solutions.

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