India's EV Financing Industry Projected To Be Worth Rs 3.7 Lakh Crore In 2030 Says NITI Aayog

NITI Aayog and Rocky Mountain Institute (RMI) India released a new report 'Mobilising Electric Vehicle Financing in India', which highlights the role of finance in the India's transition to electric vehicles (EVs) and analyses that the transition will require a cumulative capital investment of USD 266 billion (Rs 19.7 lakh crore) in EVs, charging infrastructure, and batteries over the next decade. The report also identifies a market size of USD 50 billion (Rs 3.7 lakh crore) for the financing of EVs in 2030about 80% of the current size of India's retail vehicle finance industry, worth USD 60 billion (Rs 4.5 lakh crore) today.

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