₹2.23 Lakh Crore Invested in India’s EV Sector

Approximately ₹2.23 lakh crore has been invested in India’s domestic electric vehicle (EV) sector over the past five years (2020–25), according to a recent report by the Institute for Energy Economics and Financial Analysis (IEEFA). However, this accounts for only 18 percent of the total ₹12.50 lakh crore required to achieve the country’s 2030 targets. The report emphasizes that investments in the EV sector must accelerate significantly over the next five years to bridge this substantial funding gap.

To mobilize the remaining ₹10.2 lakh crore needed by 2030, systemic financing reforms will be essential, said Shubham Srivastava, co-author of the IEEFA report. The central government has set ambitious targets to increase EV adoption by 2030, aiming for EVs to account for 30 percent of passenger car sales, 70 percent of commercial vehicle sales, 40 percent of bus sales, and 80 percent of two- and three-wheeler sales nationwide.