India is set to attract US$ 40 billion in EV-related investments over the next 5-6 years, focusing heavily on lithium-ion battery production. Key projects include plants by Reliance, JSW, and Hyundai. The investments are expected to boost real estate demand for manufacturing units and charging infrastructure, with over 45 million sq. ft. needed by 2030.
India is expected to attract around US$ 40 billion in investments toward the development of Electric Vehicles (EVs) and associated industries over the next 5-6 years. The deployment of these funds will largely depend on the effective implementation of government policies, the expansion of charging infrastructure, and the growth of domestic manufacturing capabilities.
Major investments include Reliance New Energy’s lithium iron plant in Gujarat, JSW Green Mobility’s EV manufacturing unit in Maharashtra, and Hyundai’s investments across various EV-related segments in Karnataka.
A report by Colliers, titled “EVs in India: Renewed Vigour in Electric Mobility,” highlights that nearly two-thirds of the anticipated investments will target the lithium-ion battery segment. Despite the slower-than-expected pace of EV adoption, the sector has seen investment commitments surge more than threefold in the last three years. This significant growth reflects the immense potential of electric mobility in the Indian market.
These planned investments are expected to drive real estate opportunities. They could expedite land acquisition for setting up EV and Original Equipment (OE) manufacturing units, including lithium-ion battery plants. Additionally, the rise in EV adoption is likely to increase demand for charging infrastructure, which could result in a real estate requirement of over 45 million sq. ft. by 2030.
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