India’s Electric Car Market to Penetrates 9% by FY30: Report

As per the report by Nomura, India’s electric car market is set to reach 9% penetration by FY30. The report noted that electric vehicle (EV) adoption in passenger cars has remained at about 2% over the past two years. However, it predicts a rise by 5% by FY27 and 9% by FY30.

Auto makers currently have focus on affordable, production-ready EV models to meet future Corporate Average Fuel Efficiency (CAFE) standards and remain competitive. The report emphasizes that success in the EV market will help in long-term sustainability.

The Bharat Mobility Expo 2025 highlights India’s shift towards electric mobility with exhibitors showcasing advanced, eco-friendly vehicles. The event also showcased progress in technologies like Advanced Driver Assistance System (ADAS) and EV components.

EV suppliers are focussing on integrated solutions like 3-in-1 and 5-in-1 axles, which are expected to improve both efficiency and affordability. The report by Nomura also suggests that vehicle content is expected to increase with the introduction of premium features such as advanced lighting, interior plastics, touch-based switches and more sensors for ADAS.