EV, Ancillary Inds Can Attract $40 Bn Worth Investments

New Delhi: There is a potential $40 billion investment opportunity for the development of electric vehicles (EVs) and ancillary industries in India over the next 5-6 years, a report showed on Wednesday.

About two-thirds of the planned investments can potentially materialise in the lithium-ion battery segment alone, said the report by Colliers, a professional services and investment management company.

The deployment of these funds will rely upon successful implementation of government policies, charging infrastructure ramp-up and domestic manufacturing capacity scale-up, it added.

At the same time, with an uptick in EV adoption, increasing need for charging infrastructure would potentially translate into real estate demand for more than 45 million square feet by 2030.