123 Million EVs Could Be On India’s Roads by 2032, 2.1 Million Charging Points Needed: Report

A new report from India Energy Storage Alliance (IESA) and its founding company, Customized Energy Solutions (CES), projects that anywhere between 49 million and 123 million EVs will be running on India’s roads by the year 2032. The lower end of that projection is a worst-case scenario, while the high end is a target based on potentially beneficial policy and infrastructure developments in line with India’s stated national goals for electrification and net-zero carbon emissions by 2070. With all conditions remaining the same as they are now, the number could still reach 60 million. 

Also see: EV Adoption Continuous To Face Roadblocks In India

The report also points out that the country will need up to 2.1 million new charging points to serve this growing number of EVs. There were approximately 76,000 charging points (public as well as private) operational in India as of 2024, and that number would need to grow by up to 28X. Current installed capacity is 1.3GW as opposed to the projected requirement for 23GW. 

Most privately owned electric cars use Type-2 AC chargers in residential areas. Demand for public high-speed DC fast charging infrastructure as well as private installations is expected to grow significantly. As of 2024, an estimated 70 percent of private charging points were rated at 3.3kW, 28 percent were rated at 7.8kW, and only 2 percent were rated higher, at 11-22kW, which would be classified as high-speed.

Also see: Tata Motors To Add 4 Lakh Charging Stations By 2027

India’s EV penetration has risen 12X over the past five years, to 4.4 million in 2024 compared to just 3,50,000 in 2019. The report credits government incentives and rebates for vehicle purchases and charging infrastructure, particularly the FAME-II scheme, for this growth. 

As of 2024, 93 percent of EVs on Indian roads were bikes and three-wheelers. Cars were only 6 percent of all EVs, and buses accounted for less than 1 percent. By 2032, the report envisions that 80 percent of bikes and three-wheelers and 40 percent of buses will be electric. Interestingly, while car penetration could go up to 10 million units in this timeframe, the report suggests that only 30 percent of privately owned ones will be electric, but that figure rises to 70 percent for commercial vehicles.