India's EV Revolution: A Real Estate Powerhouse by 2030
India's electric vehicle (EV) market is set for transformative growth, requiring significant land and investment by 2030. Savills India's report highlights the need for 6,900 acres and up to USD 9 billion to bolster EV manufacturing and infrastructure. Government initiatives and rising demand fuel this real estate expansion.
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- India
According to a recent report by Savills India, the country's electric vehicle (EV) market is poised for substantial growth by 2030, necessitating nearly 6,900 acres of land and investments amounting to USD 9 billion. This expansion is vital for establishing EV manufacturing units, lithium-ion battery facilities, and public charging stations.
Government policies and rising environmental concerns are driving this transformation, as the demand for EVs continues to surge. The report, titled 'Charged for Change: How EVs Are Reshaping Indian Real Estate,' forecasts that the real estate sector will see significant growth, with a heightened need for industrial and warehousing spaces to support this burgeoning industry.
Srinivas N, Managing Director at Savills India, emphasizes the role of government initiatives in building a robust EV ecosystem. Projections indicate that by 2030, cumulative EV sales in India could reach up to 31.8 million units, further underscoring the need for expansive infrastructural development.
(With inputs from agencies.)
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