Electric Mobility in Full Gear - Report
In this report, ‘Electric Mobility in Full Gear,’ we explore various real estate opportunities arising from EVs, across the plethora. This is a huge opportunity for the real estate sector to partake in the sustainable movement. A lot will depend on how policy incentives, support infrastructure and investments materialize to form a robust EV ecosystem in the country.
India’s EV market is likely to grow in the coming years, backed by government initiatives and a move towards reversing climate change. India is taking a step towards sustainability and has vowed to cut its carbon emissions. Here’s an overview of the various factors that will power the EV shift in India.
The Central Government initiated a broad level policy in 2013 through the National Electric Mobility Mission Plan (NEMMP) envisioning faster adoption of EVs. Over the years, the government has formulated Faster adoption and manufacturing of (Hybrid &) Electric Vehicles (FAME) policies under the NEMMP. This framework has helped attract huge investments and will drive more assets in the future. Here’s a yearly classification of the developments.
The Central Government and the State Governments are continuously aiding the EV manufacturers. Currently, 15 Indian States have either approved or notified EV policies, with 6 more states in the draft stage. Here are the details about the concerned states.
The growth of the EV sector lends itself to opportunities in the real estate sector. As the Indian EV industry grows, it promises ample opportunities for property owners across the spectrum from manufacturing to charging infrastructure. Here’s an overview of these opportunities.
If there are opportunities, there will be challenges too. Factors like the time needed for legal clearances, dearth of Grade-A facilities, and more will definitely be matters of concern. Here are a few factors that will be challenging and need proper attention.
With India’s shift to Electric Vehicle EVs, there is an opportunity for property owners to monetise 1,300 acres of land pan-India for a battery manufacturing capacity of 110 GWh. Companies will also look forward to setting up giga-factories to manufacture batteries and aid this shift. Here’s an in-depth understanding of the nature of these factories.
