Forvis Mazars, a leading audit, tax, and advisory services firm, providing comprehensive solutions to businesses across various industries, has come out with a report on the India’s EV infrastructure potential, which says the country will need to add 4,00,000 EV chargers to have 1.32 million EV chargers by 2030.

This robust charging ecosystem will be needed to support India’s transition towards green vehicles and have a ratio of one charger for every 40 electric vehicles in the country. 

The report states that the number of public electric vehicle charging stations in India expanded significantly from 1,800 in February 2022 to 16,347 in March 2024, marking nearly a ninefold increase. This robust infrastructure expansion is crucial as it aligns with the increasing demand for EVs driven by heightened environmental awareness, rising fuel prices, and supportive government incentives, setting the stage for a more sustainable transportation future.

Rohit Chaturvedi, Partner, Transport and Logistics sector leader, Government, Infrastructure and Development Sector Advisory Services, Forvis Mazars in India said, “India needs to scale up public charging infrastructure to meet the growing demand and reduce range anxiety. By 2030, electric vehicles are projected to make up almost one-third of India's passenger vehicle market, highlighting the significant infrastructure requirements. At Forvis Mazars in India, we are committed to supporting this transformative journey, leveraging our expertise in advisory services to help build a sustainable and efficient EV ecosystem in India."

Global and India EV sales

The sales of electric cars globally grew 27 percent between 2022 to 2023, which translates to 13.09 EVs sold last year. This rapid increase underscores the critical need for a robust charging infrastructure to support the growing number of EVs, which totalled more than 40 million by 2024.

In India too the sales of electric vehicles have tripled in the last fiscal year, particularly in the two-wheeler and three-wheeler segments. The four-wheeler segment also shows substantial promise with several new model launches expected. Factors such as lower total cost of ownership, ease of use, sustainable choices, a growing supplier network, product customisation, and government incentives like FAME-II are driving EV adoption and charging infrastructure growth.

On the other hand, India's charging infrastructure demands are unique due to the dominance of two- and three-wheelers, which primarily utilise AC slow charging and battery swapping. 

In contrast, passenger vehicles and buses require a mix of AC and DC charging solutions. Home and workplace charging is expected to dominate for private two-wheelers and four-wheelers, while commercial fleets will rely on private depots or public charging networks. DC fast chargers will cater to the growing demand for public charging as the electric car sales increases.

By 2030, India is projected to have around 50 million EVs on its roads, with a market size expected to reach $48.6 billion (INR 385 billion). To achieve a ratio of 1:40 EVs to charging infrastructure, India will need to install over 400,000 chargers annually, totalling 1.32 million chargers by 2030.

Government policies

The Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme provides incentives for EV adoption and charging infrastructure growth. The Ministry of Heavy Industries (MHI) has approved 2,877 EV charging stations across multiple states and 1,576 stations on 16 highways and 9 expressways. The Ministry of Housing and Urban Affairs (MOHUA) targets semi-public charging at 20 percent of all vehicle holding capacity, with additional power load requirements for premises.

Forvis Mazars’ report states that the projections indicating nearly one-third of India's passenger vehicle market will be electric by 2030, the focus on scaling up public charging infrastructure is paramount. 

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Delhi-NCR-based electric vehicle maker Euler Motors has entered the electric three-wheeler passenger category with the 'Neo by Euler' brand.

The company introduced the first vehicle under this brand, the Neo HiRANGE electric three-wheeler, with an introductory price of INR 309,999. The vehicle is designed for last-mile passenger transport in cities.

The vehicles under the 'Neo by Euler' brand will serve a range of customers, including new EV buyers, drivers for ride-hailing services, fleet operators and self-employed owners. Euler Motors plans to roll out these vehicles across 50 Indian cities over the next three to four months.

Euler Motors states that autorickshaws are a vital part of urban transport in India. Its new EV, the Neo HiRANGE, addresses the need for reliable, long-range and durable vehicles in this sector. The company's two years of research and development, which included conversations with over 10,000 auto-rickshaw drivers, shaped the vehicle's design. The Neo HiRANGE is built for Indian roads, with a rugged chassis and real-time diagnostics.

The vehicle comes in three variants: Neo HiRANGE Maxx, HiRANGE Plus and HiRANGE. The top variant offers a range of over 200 km on a single charge and can be charged in 3.25 hours. It has a skateboard chassis, 65 Nm of torque and hill-assist for stable performance. The vehicle includes a warranty of up to six years or 175,000 km and an anti-theft GPS system.

Saurav Kumar, Founder and CEO, Euler Motors, said, "We are excited to enter the commercial passenger EV segment. 'NEO by Euler' reflects our proven leadership in the commercial EV market. It is the result of deep product learning and on ground engagement with auto drivers across Indian cities. We heard firsthand challenges faced by drivers every day, from long fuel queues and unreliable maintenance to passenger discomfort, and low savings. These insights have shaped every aspect of the brand. Drivers want a solution that offers the highest range in a single charge, supports their livelihood, and gives them the confidence to keep moving. 'Neo by Euler' is our response to those needs; a no-compromise brand built for the realities of commercial passenger mobility in India offering best in class passenger comfort, consistent earning to drivers and overall safe solution."

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Bengaluru-headquartered electric vehicle company Ola Electric has announced that it’s Gen 3 e-scooter portfolio has received Certification for Compliance under the Production Linked Incentive (PLI) Scheme for the automobile and auto components sector.

The certification granted by the Automotive Research Association of India (ARAI) will allow Ola Electric to receive incentives from 13 percent to 18 percent of the determined sales value (DSV) until 2028.

At present, the company’s Gen 3 portfolio comprises of S1 Pro 3 kWh, S1 Pro 4 kWh, S1 Pro+ 4 kWh, S1 X 2 kWh, S1 X 3 kWh, S1 X 4 kWh and S1 X+ 4 kWh.

 “Securing PLI certification for our Gen 3 scooters, which form the bulk of our sales, is a critical step towards profitability. This will directly strengthen our cost structure and margins, enabling us to deliver sustainable growth. With our auto business targeted to turn EBITDA positive, the certification acts as a strong catalyst to achieve that goal while ensuring our customers continue to get the best-in-class EVs at highly competitive prices,” said a Ola Electric spokesperson.

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German luxury automotive brand BMW Group India has cemented its leadership in the luxury electric vehicle (EV) market by becoming the first in the segment to deliver over 5,000 EVs in the country. To mark this significant milestone, the company has inaugurated a new high-power charging corridor spanning 4,000 kilometres from North to South, offering charging access to all EV brands.

The new corridor features charging stations every 300 kilometres, effectively linking major cities and highways from Jammu to Madurai. The route covers key locations including Delhi, Jaipur, Ahmedabad, Mumbai, Pune, Bengaluru and Chennai, aiming to eliminate range anxiety for EV drivers.

Vikram Pawah, President and CEO, BMW Group India, said, “BMW Group India is immensely proud to become the first luxury carmaker to cross the remarkable milestone of 5,000 electric vehicle deliveries. This achievement is not just a number, it represents our unwavering commitment to e-mobility and pioneering spirit in the premium EV landscape. At BMW, luxury and performance is delivered seamlessly with sustainability, and our electric products embody this philosophy. In this journey, we will continue to delight our customers with the most electrifying products and services that provide complete peace of mind. To mark this milestone, we are happy to introduce our high-power charging corridor. Across the length of the nation, from Jammu to Madurai, EV customers can now just sit back and enjoy Sheer Driving Pleasure without a second thought.”

In a move to encourage broader EV adoption, BMW Group India has made these new charging stations accessible to all EV owners, regardless of their vehicle's brand. The stations, with capacities ranging from 120kW to an impressive 720kW, are a part of a larger network of over 6,000 charging points across the country, accessible via the myBMW app. The company is collaborating with charging operators like Statiq and Zeon to manage these new stations.

The sales milestone has been attained by the company’s expansive portfolio of EVs compromising the flagship BMW i7 to the popular BMW iX1 Long Wheelbase, which was the highest-selling BMW EV in the first half of 2025.

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Chennai-headquartered two-wheeler and three-wheeler major TVS Motor Company has launched a new electric three-wheeler, the ‘TVS King Kargo HD EV’ at INR 385,000 (ex-showroom Delhi), which it believes will transform urban and semi-urban logistics. The EV is engineered for performance, durability and connectivity in the last-mile delivery sector.

The King Kargo HD EV is designed to improve safety and comfort for operators. It features several segment-first innovations, including LED headlamps and tail lamps for better visibility and a spacious cabin with fully rolling windows. For enhanced performance, it has a dedicated Power Gear Mode that provides higher torque when carrying heavy loads.

The new three-wheeler is also India's first Bluetooth-enabled cargo three-wheeler. It comes equipped with TVS SmartXonnect, offering 26 smart features, along with twin-axis rear-view mirrors for safer navigation through congested city streets. The vehicle’s connected features are managed through TVS Connect Fleet, a web-based platform that gives fleet operators real-time tracking, remote control and advanced analytics for efficient fleet management.

Rajat Gupta, Business Head of Commercial Mobility at TVS Motor Company, said, “The launch of the TVS King Kargo HD represents a transformative moment in the evolution of cargo mobility, aligned to our ‘Re-Imagine 2030’ vision. This three-wheeler will set new benchmarks by delivering an unmatched combination of smart features, high load capability, comfort, ergonomics and safety. Coupled with the TVS Connect Fleet, the vehicle will empower businesses and also improve the everyday life of operators. With the TVS King Kargo HD EV, we are confident of redefining customer expectations and enabling them to achieve more, every day, effortlessly.”

In its initial phase, the TVS King Kargo HD EV will be available in key markets, including Delhi-NCR, Rajasthan and Bengaluru. The company also showcased a CNG variant, which is scheduled for release later this year.

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