India EV industry

India's huge population of 1.37 billion supports a sizeable motor vehicle market. On top of that, subsidies for EVs from both the central and state governments will drive the country's EV market to grow by leaps and bounds in the coming years.

Battery swapping, power units and IoV solutions are among the strengths of Taiwan's EV component suppliers and are also what India needs. These are the critical areas where Taiwan's and India's EV supply chain can join forces.

To drive EV industry development and boost EV sales, the Indian central government has laid out the FAME II scheme that totals nearly INR100 billion (about US$1.4 billion) to subsidize EVs and car-charging infrastructures. State governments are also offering a range of incentives and tax exemptions to attract EV makers to build factories and consumers to buy EVs.

• Introduction

• Table 1: India population and motor vehicle market status

• India EV industry

• Government projects and policies

• Table 2: India FAME II scheme detail

• Table 3: India state governments tax incentives for EV purchasing

• Market scale

• Chart 1: India EV market scale, FY2016-2021 (units)

• Table 4: India EV types and vendor status

• Charging solutions

• Table 5: India major EV charging solutions

• Taiwan ICT supply chain

• Table 6: EV sub-systems and Taiwan's ICT supply chain

• E2W pricing

• Chart 2: India sales share of 2-wheel vehicles running on electricity and fuel by vehicle pricing, FY2020, 2025