Global EVs to Reach 85 Million
ECONOMY & POLICY

Global EVs to Reach 85 Million

The global electric vehicle (EV) market is set to experience rapid growth, with an estimated 85 million EVs expected on roads worldwide by 2025, according to industry projections. As part of this global surge, India is anticipated to see a significant rise in EV adoption, with around 5 lakh (500,000) electric vehicles projected to be in use within the same timeframe. The increased momentum in EV adoption is driven by the global push for sustainability, reducing greenhouse gas emissions, and transitioning toward cleaner energy alternatives in transportation.

India’s growing interest in EVs is supported by various government initiatives, such as subsidies, tax incentives, and infrastructure development, including the expansion of charging stations. The country aims to reduce its dependence on fossil fuels and cut carbon emissions as part of its commitments to the Paris Agreement on climate change. The Indian government has set ambitious goals to electrify its transportation sector, with a focus on public transport, two-wheelers, and commercial vehicles, contributing significantly to overall EV adoption.

Technological advancements in battery technology, reduced costs of electric vehicles, and increasing consumer awareness are also key factors driving the global EV market. In addition, several major automakers are launching new electric models to meet the rising demand for eco-friendly vehicles. These factors are expected to fuel the exponential growth of the electric mobility sector over the next few years.

However, challenges such as the high initial cost of EVs, lack of charging infrastructure in certain regions, and supply chain constraints for critical materials like lithium and cobalt for batteries still need to be addressed. India’s EV market, though growing, will require continued investment and policy support to achieve its targets and fully integrate into the global EV ecosystem.

The global shift toward electric vehicles represents a major step in reducing carbon emissions and combating climate change, with significant implications for the energy and automotive sectors worldwide.

The global electric vehicle (EV) market is set to experience rapid growth, with an estimated 85 million EVs expected on roads worldwide by 2025, according to industry projections. As part of this global surge, India is anticipated to see a significant rise in EV adoption, with around 5 lakh (500,000) electric vehicles projected to be in use within the same timeframe. The increased momentum in EV adoption is driven by the global push for sustainability, reducing greenhouse gas emissions, and transitioning toward cleaner energy alternatives in transportation. India’s growing interest in EVs is supported by various government initiatives, such as subsidies, tax incentives, and infrastructure development, including the expansion of charging stations. The country aims to reduce its dependence on fossil fuels and cut carbon emissions as part of its commitments to the Paris Agreement on climate change. The Indian government has set ambitious goals to electrify its transportation sector, with a focus on public transport, two-wheelers, and commercial vehicles, contributing significantly to overall EV adoption. Technological advancements in battery technology, reduced costs of electric vehicles, and increasing consumer awareness are also key factors driving the global EV market. In addition, several major automakers are launching new electric models to meet the rising demand for eco-friendly vehicles. These factors are expected to fuel the exponential growth of the electric mobility sector over the next few years. However, challenges such as the high initial cost of EVs, lack of charging infrastructure in certain regions, and supply chain constraints for critical materials like lithium and cobalt for batteries still need to be addressed. India’s EV market, though growing, will require continued investment and policy support to achieve its targets and fully integrate into the global EV ecosystem. The global shift toward electric vehicles represents a major step in reducing carbon emissions and combating climate change, with significant implications for the energy and automotive sectors worldwide.

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000