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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Delhivery and Bajaj Auto have signed an agreement to deploy electric three-wheelers across Delhivery's last-mile delivery network. The partnership begins with the deployment of 200 Bajaj RIKI eCarts (model C4005) in the first phase, with a second phase planned for 2026–2027 that aims to reach a total of approximately 1,500 electric vehicles.

The initiative aims to improve operational efficiency in both metropolitan areas and Tier-2 and Tier-3 cities. The Bajaj RIKI eCart (C4005) offers a claimed range of over 100 km per charge. The vehicle features an electric powertrain and a two-speed automatic transmission. Delhivery plans to pair the vehicles with its automated route optimisation software to increase drop-offs per trip and reduce operating costs per kilometre. The EVs are designed with ergonomic seating to protect riders from weather conditions and reduce physical fatigue.

Prashant Gazipur, Chief Operating Officer, In-City Operations at Delhivery, said, "Our collaboration with Bajaj Auto addresses the economic well-being of our delivery partners while advancing both our environmental goals and those of our clients. By combining our intelligent routing systems with highly efficient cargo EVs, we are creating a more profitable model for our riders and offering our clients a cleaner, lower-carbon supply chain."

Samardeep Subandh, President, Intra-City Business, Bajaj Auto, added, "This partnership with Delhivery has the potential of transforming last-mile cargo transport, with Delhivery’s scale and technology and Bajaj Auto’s expertise in 3-wheeler electric mobility. The Bajaj Riki C4005 offers 100+ kms of range on a single charge, excellent reliability and durability along with better comfort and ergonomics for drivers."

The deployment is part of Delhivery’s broader strategy to reduce its Scope 3 greenhouse gas emissions and meet its environmental, social and governance (ESG) targets.

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Ultraviolette Automotive has opened its new UV Space Station in Aizawl, Mizoram, marking the company’s entry into Northeast India. The centre, established in partnership with MSS Motors, provides sales, service, test rides and accessories for the F77 and X-47 Crossover electric motorcycles.

At present, the EV maker’s ‘Kill the Petrol Bill’ campaign valid until 30 June 2026, will see customers purchasing an F77 or X-47 receive cashback based on the kilometres covered on their previous two-wheeler over the past two years.

The benefit is calculated at INR 1 per kilometre, with a maximum value of INR 30,000. Buyers must visit a space station for verification of their previous vehicle registration and odometer reading to claim the incentive.

Narayan Subramaniam, CEO and Co-Founder, Ultraviolette Automotive, said, "The Northeast is home to one of India's most passionate riding communities, with a strong culture of motorcycling and adventure. We have seen growing interest for Ultraviolette from customers across the region, making Aizawl a natural choice for our first experience centre in Northeast India."

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Switch Mobility, a manufacturer of electric buses and light commercial vehicles and part of the Hinduja Group, showcased an international variant of its Switch EiV12 electric bus at the Best of Bharat & Mauritius Expo. The event took place from 17 June to 21 June 2026.

The EV maker has an operational presence in Mauritius, having completed the delivery of 100 electric buses to the Government of Mauritius earlier this year. These vehicles have been deployed by the National Transport Corporation (NTC).

The EiV12 displayed at the expo, operated by Triolet Bus Service, uses a Permanent Magnet Synchronous AC Motor with a peak output of 235 kW, paired with LFP battery chemistry. Supports DC Fast Charging via a CCS-2 interface with dual-gun capability. The e-bus is built on a 12-metre modular platform featuring 48 seats, front and rear air suspension, and a floor-mounted battery configuration. It offers a range of up to 300 km.

The e-bus comes with Switch iON, a platform for remote diagnostics, vehicle health monitoring, predictive maintenance and fleet performance optimisation. It is equipped with a Fire Detection and Suppression System (FDSS).

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Vietnamese automaker VinFast India has signed a Memorandum of Understanding (MoU) with Shriram Finance (SFL) to improve consumer access to electric vehicle (EV) financing solutions. The partnership aims to accelerate EV adoption by leveraging Shriram Finance's extensive branch network and expertise in vehicle financing.

The partnership will see Shriram Finance provide up to 100 percent on-road funding on VinFast vehicles, with competitive interest rates and flexible repayment options. The facility will be available across urban, rural, and semi-urban markets via Shriram Finance’s network of over 3,000 branches.

Tapan Ghosh, CEO, VinFast India, said, “India’s transition to electric mobility will be shaped not just by strong products, but by the strength of the ecosystem that supports them. Our partnership with Shriram Finance reflects VinFast’s continued focus on removing barriers to EV adoption by improving financing accessibility and enabling a smoother ownership experience for our customers across markets.”

Nandagopal R., President & National Business Head, Shriram Green Finance, said, “We are pleased to collaborate with VinFast through this strategic MOU, which marks an important step towards strengthening sustainable mobility solutions in India. This association reflects our shared vision to accelerate EV adoption and support the development of a stronger green mobility ecosystem across the country.”

This partnership follows VinFast's recent entry into the electric MPV segment with the launch of the VF MPV 7. In addition to financing, VinFast is focusing on other initiatives to support EV ownership, including assured resale and structured buyback programmes.

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