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India will require between 5,760 and 6,852 acres of land by 2030 to support electric vehicle manufacturing, lithium-ion battery plants, and public charging infrastructure, according to a comprehensive report released by Savills India on World Environment Day. The real estate advisory firm estimates that this development will necessitate an investment of USD 7.5 to 9.0 billion, primarily allocated for land acquisition and facility construction.
The report, titled “Charged for Change: How EVs Are Reshaping Indian Real Estate,” projects that India’s cumulative EV sales will reach 25.3 to 31.8 million units by 2030, based on estimates from the Ministry of Road Transport and Highways, NITI Aayog, and the Rocky Mountain Institute. This growth trajectory aligns with India’s target of achieving 30 percent EV penetration by 2030.
The land requirement breakdown encompasses three critical sectors. EV manufacturing facilities will demand 2,009 to 2,467 acres with a built-up potential of 43.8 to 53.7 million square feet, requiring USD 2.8 to 3.5 billion in real estate investments. Public charging infrastructure will need 2,402 to 2,744 acres with 52.3 to 59.8 million square feet of built-up area, necessitating USD 2.8 to 3.2 billion in investments. Lithium-ion battery manufacturing will require 1,348 to 1,641 acres with 29.3 to 35.7 million square feet of development space, demanding USD 1.9 to 2.3 billion in investments.
India’s lithium-ion battery manufacturing capacity is projected to expand from the current 4 GWh to between 147 GWh and 179 GWh by 2030. This expansion supports the country’s objective to produce 13 percent of its EV battery cell demand domestically, reducing dependence on imports from China, South Korea, and Japan.
The charging infrastructure development will establish 81,000 to 92,500 public and semi-public charging stations nationwide, maintaining a 1:20 station-to-vehicle ratio. These stations will be strategically located across office complexes, shopping malls, transit hubs, and public parking areas to support electric two-wheeler charging requirements.
“Aligning with India’s target of achieving 30% EV penetration by 2030, the real estate sector is expected to experience significant growth driven by the rise in EV adoption. The growing demand for EVs will stimulate the need for multiple real estate segments, including industrial and warehousing spaces to support EV and battery manufacturing, EV assembly units, and the storage and distribution of EV components and batteries,” stated Srinivas N, Managing Director, Industrial & Logistics, Savills India.
“Additionally, the expansion of supply chains will increase the demand for strategically located warehouses and logistics parks. The government’s role with several policies and various initiatives, collectively aims to establish a robust EV ecosystem in the country by fostering innovation, investment and infrastructure development while addressing climate change and energy security concerns,” he added.
The report identifies several factors driving EV adoption in India, including government policy initiatives, rising environmental awareness, increasing fuel costs, and technological advancements in battery efficiency and charging capabilities. The entry of key manufacturing players has reduced import dependency while improving cost competitiveness, supported by the availability of skilled workforce for research and development activities.
The projected annual land requirement translates to 21 to 25 million square feet of built-up area development each year through 2030. This substantial infrastructure development will create demand for large land parcels for EV battery and component manufacturing facilities, alongside smaller plots for charging stations distributed across urban centers.
The infrastructure development plan encompasses the entire EV ecosystem, from manufacturing facilities and battery production plants to the extensive charging network required to support widespread electric vehicle adoption across India.
This article first appeared on Autocar
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