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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BYD has claimed the title of the United Kingdom’s leading electric vehicle brand for 2026, surpassing established rivals including Tesla, BMW, KIA and Volkswagen. Official figures show the Chinese automaker has registered 12,754 battery-electric cars since the start of the year. This achievement is particularly notable as BYD has simultaneously become the top choice among private EV buyers, a feat accomplished despite being excluded from the government’s official Electric Car Grant scheme.

The brand’s broader success extends to its plug‑in hybrid lineup, marketed under the DM‑i dual‑mode intelligent system. Combining fully electric and hybrid sales, BYD has delivered 26,396 new energy vehicles in the UK year‑to‑date, capturing a 9.5 percent share of the national market. Three DM‑i models are currently available – SEAL U, SEAL 6 and SEALION 5 – with the ATTO 2 and additional models scheduled to arrive soon. The overall UK EV market has expanded by 22 percent, reflecting rising consumer appetite for sustainable transport.

BYD DOLPHIN SURF

BYD SEAL

Bono Ge, Country Manager, BYD UK, said, “With fuel prices remaining high, more drivers are turning to electric vehicles as a smarter and more economical choice. We are delighted to see the UK EV market grow by 22 percent year-on-year, and even more proud that BYD has become the UK’s leading EV brand in a little over three years. At BYD, we are committed to delivering outstanding value through high-tech electric vehicles that combine innovation, quality and affordability. But our ambition goes beyond building great cars.

“We are also bringing advanced technologies that unlock the full value of electrification, including Vehicle-to-Grid solutions that can help customers optimise energy use and reduce costs. In parallel, BYD has been deploying home and utility-scale energy storage solutions to support a more efficient and affordable energy ecosystem. Looking ahead, we also plan to introduce our breakthrough FLASH Charging, capable of charging a vehicle from 10 percent to 97 percent in just nine minutes.”

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LICO Materials, a battery circularity company, has received an eligibility grant from the Ministry of Mines under the Incentive Scheme for Promotion of Critical Mineral Recycling. The scheme is a component of the National Critical Mineral Mission (NCMM).

The grant, issued via the Jawaharlal Nehru Aluminium Research Development and Design Centre (JNARDDC), identifies LICO as one of 58 companies selected to develop domestic mining capabilities in India.

LICO has committed an investment of INR 2.40 billion and qualifies for a 20 percent Capital Expenditure (CAPEX) subsidy. Additionally, the company will receive an Operational Expenditure (OPEX) subsidy linked to commercial sales through to FY2030–31. Selection for the scheme required proof of technical capability in chemical extraction; companies involved only in collection or shredding were excluded.

The project involves a brownfield expansion in KIADB, Karnataka. LICO plans to add 10,000 tonnes per annum (TPA) of material extraction capacity across two plants. While, one facility will focus on the mechanical shredding of battery packs, the second will handle the chemical extraction of minerals. The company aims to recover lithium, nickel and cobalt at 99 percent purity from end-of-life batteries featuring LFP, LCO and NMC chemistries.

The NCMM scheme has a national outlay of INR 15 billion and aims to increase India’s recycling capacity from 100,000 TPA to 400,000 TPA by 2030. This initiative is intended to reduce reliance on mineral supply chains from East Asia and improve industrial security.

Gaurav Dolwani, CEO, LICO Materials, said, “This recognition by the Ministry of Mines and NCMM is government's validation that what we are building in Karnataka is what India needs. We are not just recycling batteries but are producing battery-grade lithium, nickel & cobalt on Indian soil, from Indian waste batteries, for India's cell and battery manufacturers. This is critical when global mineral supply chains are fracturing along geopolitical lines. We are grateful for this recognition and committed to delivering on every milestone.”

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Japanese automotive luxury carmaker Lexus has released details of the TZ, a battery electric vehicle (BEV) and three-row SUV. The EV follows the theme ‘Discover Limitless’ and is based on a ‘Driving Lounge’ concept.

The interior features a movable panoramic roof and an audio system. For acoustics, the e-SUV uses sound directivity control to manage the cabin environment. Materials used in the construction include forged bamboo from Shikoku and recycled aluminium. The development of the TZ followed a philosophy focused on the core structure and ride quality.

The design features a spindle body and graphics to manage aerodynamics. According to Lexus, the model achieves aerodynamic performance levels for its SUV category as of May 2026. The vehicle includes a ‘Rear Comfort’ mode and ‘Interactive Manual Drive’ technology. Manufacturing processes for the model incorporate methods intended to manage environmental impact.

Takeshi Miyaura, Chief Engineer, Lexus International, said, “TZ was developed with the 'Driving Lounge' concept: a refined mobile space that brings smiles to the faces of drivers and families. To get there, the development team continually questioned and refined the vehicle's identity. We envisioned Lexus's target brand value – customers who value time and choose authenticity – and aimed to deliver a new Lexus experience through the TZ. Electrification (BEV) emerged as the method to realise these values because BEV it offers an ideal blend of driving enjoyment and driving evolution. In addition to the Lexus experience of ‘seeing,’ ‘riding,’ and ‘driving,’ we now offer the new value of ‘spending time’ inside the vehicle.”

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European commercial vehicle manufacturer DAF has started production of the XG Electric and XG+ Electric trucks.

The e-truck, built in Eindhoven, use powertrain technology and cab designs. The first vehicle, an XG+ tractor with an output of 350 kW, will be delivered to Hellmold & Plank, a logistics provider based in Germany.

DAF's range of electric vehicles extends from the 12-tonne XB Electric for distribution to the XG and XG+ Electric for haulage. These models share technology with the XD and XF Electric trucks, which were named ‘International Truck of the Year 2026’.

Hellmold & Plank has operated for 122 years and is based in Gieben. The company employs DAF electric models for shuttle transport and drugstore supply. The firm also utilises PACCAR charging equipment for its fleet operations.

The XG and XG+ Electric are intended for distance transport. Cabs provide a volume of 12.5 cubic metre for work and sleep. The vehicles use the PACCAR EX-D2 powertrain, which produces between 270 and 350 kW and torque of 2,400 Nm. It is powered by lithium-iron-phosphate (LFP) battery packs fitted to the chassis. The e-trucks have a claimed range of 500 kilometres depending on the application.

Harald Seidel, President, DAF Trucks, said, “The start of production of the XG Electric and XG+ Electric, underlines our commitment to offering zero-emission solutions across a broad range of applications. Customers such as Hellmold & Plank demonstrate that our electric trucks are delivering strong efficiency and sustainable performances in everyday logistics operations.”

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