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India’s electric vehicle (EV) fleet is projected to exceed 28 million units by 2030, significantly increasing demand for grid energy, according to the India Energy Storage Alliance (IESA).
With cumulative EV sales surpassing 4.1 million units in FY 2023-24, the sector’s growth is fueled by rising environmental awareness, advancements in battery technology, and expanded charging infrastructure. IESA estimates that by 2030, 83% of annual EV sales will be two-wheelers, 10% four-wheelers, and 7% commercial vehicles, including buses and trucks.
Electricity consumption has surged, reaching 1,543 TWh in 2023-24 (a 7% increase from the previous year). Public EV charging demand has more than doubled, rising from 204 GWh in 2022-23 to 465 GWh from April to October 2024. Home charging remains the preferred choice for most EV users.
The Ministry of Power’s National Electricity Plan forecasts a total grid demand of 2,133 TWh by 2031-32, with EV charging accounting for approximately 3%. To support this growth, India plans to expand its total power capacity from 466 GW in 2025 to 900 GW by 2032, including 500 GW from renewable sources.
Charging infrastructure is set to scale up significantly, with approximately 100,000 charging stations expected nationwide by 2030.
