Swiss Electric Vehicles Mission to India

India’s Electric Vehicles Market Key Highlights

• The government of India has set a target of 30% electric vehicles on roads by 2030.
• EVs accounted for nearly 5% of total vehicle sales from October 2022 - September 2023; this could reach more than 40% penetration by 2030
• By 2030, India’s EV market size is expected to be more than CHF100 bn.
• India will need more than one million charging stations by 2030 to support the increased usage of electric vehicles.
• India’s FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) programme provides subsidies for EVs, thereby enabling consumer adoption.

Specific business opportunities for Swiss EV companies: 

• Component and OEM manufacturing: high-quality and innovative components and solutions for EVs such as batteries, motors, controllers, sensors, chargers
• Charging infrastructure: invest in and operate charging stations and networks for EVs; offer smart and renewable energy solutions such as solar panels, battery storage, microgrids
• Support services: provide technology support, design, consulting, and training services to Indian EV players; help in developing and implementing standards, regulations, and best practices
• Software development: develop and offer software solutions for EVs including navigation, infotainment, telematics, analytics, etc. They can also leverage artificial intelligence, machine learning, and blockchain to enhance the performance, safety, and security of EVs