New Delhi: India will need between 5,760 and 6,852 acres of land and an investment of $7.5 to $9.0 billion by 2030 to develop its electric vehicle (EV) ecosystem, including EV manufacturing, battery production, and public charging infrastructure, according to a new report by Savills India.
Released on World Environment Day, the report titled Charged for Change: How EVs Are Reshaping Indian Real Estate outlines the real estate requirements to support India’s projected EV growth.
Cumulative EV sales are expected to reach 25.3 to 31.8 million units by 2030. To meet this, India will need to produce 4.2 to 5.3 million units annually, requiring 2,009 to 2,467 acres of land and 43.8 to 53.7 million sq. ft. of built-up space. This segment alone will need investments of $2.8 to $3.5 billion.
Public and semi-public charging infrastructure will require 81,000 to 92,500 stations, needing 2,402 to 2,744 acres and 52.3 to 59.8 million sq. ft. of space, with an estimated investment of $2.8 to $3.2 billion.
Lithium-ion battery manufacturing capacity is projected to grow from 4 GWh in 2023 to 147–179 GWh by 2030. This will need 1,348 to 1,641 acres of land, 29.3 to 35.7 million sq. ft. of built-up area, and investments of $1.9 to $2.3 billion.
Overall, the combined requirement for all three segments by 2030 includes 5,760 to 6,852 acres of land, 125 to 149 million sq. ft. of built-up area, and $7.5 to $9.0 billion in real estate investment.
Savills India noted that land demand will range from large industrial plots for manufacturing to smaller parcels in urban areas for charging stations. The growth in EV demand is being driven by government policies, domestic production, reduced import reliance, improved battery technology, and availability of skilled labour.
Srinivas N, Managing Director, Industrial & Logistics, Savills India, said, “The rise in EV adoption aligned with the national goal of 30% EV penetration by 2030 will create significant opportunities across industrial and warehousing segments, including EV manufacturing, assembly, and storage of components.”
