India's EV sales set to grow tenfold to 930,000 by 2030

So what

India's NEV sales are projected to rise from about 92,000 units in 2024 to 900,000-930,000 by 2030, a roughly 45% CAGR. With batteries and semiconductors making up 40-50% of an EV, the value pool for component suppliers shifts toward new technologies. Suppliers positioning India as an export base should build electrification capability now to capture the projected $200 billion component market.