India is poised to invest between $7.5 billion and $9 billion by 2030 to develop comprehensive electric vehicle (EV) infrastructure, encompassing manufacturing units, lithium-ion battery production facilities, and public charging stations. This ambitious plan will necessitate approximately 5,760 to 6,852 acres of land, as detailed in Savills India’s report, Charged for Change: How EVs Are Reshaping Indian Real Estate.
The report outlines specific land and investment requirements across key sectors:
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EV Manufacturing: Approximately 2,009 to 2,467 acres will be needed, with an investment ranging from $2.8 to $3.5 billion.
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Public Charging Infrastructure: An estimated 2,402 to 2,744 acres will be required, demanding investments between $2.8 and $3.2 billion.
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Lithium-Ion Battery Production: Around 1,348 to 1,641 acres will be necessary, with projected investments of $1.9 to $2.3 billion.
This infrastructure expansion aligns with India’s goal of achieving 30% EV penetration by 2030, potentially resulting in cumulative EV sales of 25.3 to 31.8 million units. The anticipated growth in EV adoption is expected to stimulate demand across various real estate segments, including industrial and warehousing spaces, to support EV and battery manufacturing, assembly units, and the distribution of components.
Srinivas N., Managing Director of Industrial & Logistics at Savills India, emphasized the transformative impact of EV adoption on the real estate sector, stating that the rise in EV usage will drive significant growth in industrial and logistics real estate.
As India advances towards its electrification targets, strategic investments in infrastructure and real estate will be crucial to support the burgeoning EV ecosystem and meet the nation’s sustainability objectives.
