India’s electric vehicle (EV) market is expected to grow significantly, reaching 9% penetration by FY30, up from the current 2%, according to a Nomura report. This growth is part of a broader shift toward sustainable transportation in the country.
The report noted that EV adoption in passenger cars has remained at about 2% over the past two years. However, it predicts a rise to 5% by FY27 and 9% by FY30. In the electric two-wheeler segment, adoption is expected to increase from 5.8% in FY25 to 10% by FY27 and 20% by FY30.
Automakers are focusing on affordable, production-ready EV models to meet future Corporate Average Fuel Efficiency (CAFE) standards and remain competitive. The report emphasized that success in the EV market is crucial for long-term sustainability.
The 2025 Bharat Mobility Expo highlighted India’s shift towards electric mobility, with exhibitors showcasing advanced, eco-friendly vehicles. The event also showcased progress in technologies like Advanced Driver Assistance Systems (ADAS) and EV components.
The report noted that vehicle content is expected to increase with the introduction of premium features such as advanced lighting, interior plastics, touch-based switches, and more sensors for ADAS. EV suppliers are focusing on integrated solutions like 3-in-1 and 5-in-1 axles, which are expected to improve both efficiency and affordability, driving further adoption of electric vehicles.
India’s automotive industry is preparing for a transformative decade, with electric mobility playing a central role in shaping the future of sustainable transportation.
Source: Times of India
Responsible for delivering local & international automotive news.
