The Indian EV industry is transitioning from government-incentivized growth to a self-sustained, fiercely competitive industry.
With sales growth slowing to 19% in 2024 from 68% in 2023, global and domestic OEMs are rapidly shifting strategies — investing in local manufacturing, launching mid-segment models, and racing to solve affordability, range, and infrastructure hurdles.
Frost & Sullivan’s latest growth analysis, Electric Vehicle Industry, India, 2024–2031, provides competitive benchmarking, regional opportunities, and growth strategies required to lead in this dynamic space.
Will you be quick to harness EV growth opportunities in a rapidly evolving market, or will competitors outpace you? Fill in the form to claim your 15% discount and get started today!
Download Sample
What You’ll Learn
Regional and Segment-specific EV
Megatrends State-wise consumer preferences and sales data, urban fleet electrification data, and insights on high-growth EV segments.
Best Practices by OEMs
Production shifts, new model launches, and localization strategies of Tata, MG, Mahindra, Maruti, Hyundai, BYD, and others.
Ways to Adapt to Policy, Investment, Infra Shifts
Indian post-FAME (Faster Adoption and Manufacturing of Electric Vehicles) regulatory strategies, charging infrastructure disruptions, and investor partnerships across batteries, financing, and technology.
Key Growth Opportunities Unlocked
The Rise of Self-sufficiency
With EV subsidies declining, OEMs are rethinking their business models. The winners will be those who localize powertrains, invest in gigafactories, and scale sustainably.
Localization = Cost Competitiveness
India’s policy incentives and import duties are pressuring companies to go local. This is encouraging global OEMs to set up manufacturing bases in India and Indian players to aim for self-sufficiency.
Convergence of Fleets, Finance, and Disruptive Technologies
Fleet electrification and Battery-as-a-Service (BaaS) models are rewriting India’s mobility economics—and creating parallel opportunities in fintech, telematics, and infrastructure.
Why Frost & Sullivan?
Frost & Sullivan’s growth analyses offer more than just data. They deliver strategic imperatives, competitor benchmarking, and value chain intelligence to help you act faster, invest smarter, and capture white spaces before others do. Fill in the form to download your exclusive copy now!
Sign up for a complimentary Growth Pipeline Dialog™
A Growth Pipeline Dialog is a structured discussion with our growth experts providing unparalleled technology intelligence and proven implementation best practices. This discussion will spark innovative thinking and help generate a pipeline of growth opportunities you can leverage to maximize your company’s future growth potential.
Upon completing the dialog session, you will receive a $1,000 honorarium* as a token of our appreciation, which can be used towards the purchase of our products and services on store.frost.com.
*$1,000 honorarium is subject to eligibility
