EV financing industry to be worth Rs 3.7 lakh crore by 2030: Report ANI | Updated: Mar 09, 2021 14:26 IST
The report also identifies a market size of 50 billion dollars (Rs 3.7 lakh crore) for the financing of EVs in 2030 about 80 per cent of the current size of India s retail vehicle finance industry worth 60 billion dollars (Rs 4.5 lakh crore). The need of the hour is to mobilise capital and finance towards EV assets and infrastructure, said Amitabh Kant, CEO of NITI Aayog. As we work towards accelerating the domestic adoption of EVs and push for globally competitive manufacturing of EVs and components like advance cell chemistry batteries, we need banks and other financiers to lower the cost and increase the flow of capital for electric vehicles.