India’s automotive landscape is undergoing a dramatic transformation, driven by a powerful surge in the electric vehicle (EV) industry. From bustling city streets to remote rural roads, the shift towards sustainable mobility is becoming increasingly visible. This blog, “An Overview of the Electric Vehicle Industry in India,” delves deep into this dynamic sector, exploring its current state, key drivers, challenges, and future potential.

As concerns about air pollution and climate change intensify, the Indian government, along with private players, is aggressively promoting EV adoption. This comprehensive guide will illuminate the intricate web of policies, technological advancements, and market trends shaping India’s EV revolution. We’ll examine the growing ecosystem of EV manufacturers, ev charging infrastructure providers, and battery technology developers, while also addressing the crucial aspects of consumer adoption and affordability. Whether you’re an industry professional, an aspiring EV owner, or simply curious about the future of transportation in India, this overview provides valuable insights into the electrifying journey ahead. Join us as we navigate the exciting and rapidly evolving world of electric vehicles in India.

What is an Electric Vehicle?

An electric vehicle (EV) is a mode of transportation powered by electric energy instead of conventional fuels like petrol or diesel. Unlike internal combustion engine (ICE) vehicles, EVs utilize electric motors and rechargeable batteries, making them eco-friendly and cost-effective. EVs help reduce carbon emissions, lower fuel expenses, and contribute to energy efficiency.

Types of Electric Vehicles

Electric vehicles can be categorized based on their power sources and energy efficiency:

1. Battery Electric Vehicles (BEVs): These are fully electric vehicles powered by batteries. They require external charging and produce zero emissions. Examples include the Tata Nexon EV and MG ZS EV.
2. Plug-in Hybrid Electric Vehicles (PHEVs): These vehicles combine an internal combustion engine (ICE) with a rechargeable battery. They can run on both electricity and fuel, offering flexibility. Example: Toyota Prius Plug-in Hybrid.
3. Hybrid Electric Vehicles (HEVs): Unlike PHEVs, HEVs charge their batteries through regenerative braking and the ICE. They cannot be externally charged. Example: Honda City Hybrid.
4. Fuel Cell Electric Vehicles (FCEVs): These vehicles generate electricity through a chemical reaction between hydrogen and oxygen. Though not widely available in India, they hold promise for the future.

What is EV Charging & How Does it Work?

EV charging refers to the process of replenishing an electric vehicle’s battery using an external power source. EV Charging stations, also known as Electric Vehicle Supply Equipment (EVSE), provide different charging speeds based on power output:

1. Level 1 Charging: Uses a standard household socket (120V) and takes the longest time.
2. Level 2 Charging: Utilizes 240V outlets, commonly installed in homes, offices, and public places, reducing charging time significantly.
3. DC Fast Charging: Provides rapid charging using direct current, enabling EVs to charge up to 80% within 30-60 minutes.

Current Scenario of the EV Industry in India

India’s EV sector is witnessing remarkable growth, with government policies like FAME-II (Faster Adoption and Manufacturing of Electric Vehicles) and state-level subsidies fueling adoption. Let’s explore the present landscape across different vehicle segments:

1. Passenger Cars

Electric passenger vehicles have seen a notable increase in adoption, with penetration rates projected to reach 4-6% by the end of the fiscal year 2025. Automakers are actively introducing new EV models to cater to diverse consumer preferences.

2. Two-Wheelers

The electric two-wheeler (e2W) segment has emerged as a frontrunner in India’s EV market, accounting for 85-90% of total EV sales in the fiscal year 2023. Penetration of e2Ws in overall two-wheeler sales increased nearly 5% during this period.

3. Three-Wheelers

Electric rickshaws (e-rickshaws) and electric three-wheelers are revolutionizing last-mile connectivity in India. Electric three-wheelers have gained traction, achieving a 7% penetration rate in fiscal year 2023 (excluding the e-rickshaw segment). This rate is expected to rise to 14-16% by fiscal year 2025. 

4. Heavy-Duty Vehicles

Heavy-duty vehicles (HDVs) like Electric trucks, electric buses, and hydrogen-powered heavy vehicles are gaining traction, reducing carbon emissions and operating costs. The electric bus segment has seen significant growth, with over 1,800 units sold in fiscal year 2023. Penetration is predicted to rise to 11-13% by fiscal year 2025.

Key Players in the EV Industry

1. Electric Vehicle Manufacturers

ii) List of India’s Passenger electric vehicle manufacturers

• Tata Electric
• Mahindra Electric
• MG Motors
• Hyundai India
• BYD

ii) List of India’s Two-wheelers electric vehicle manufacturers

• Ola Electric
• Ather Energy
• Bajaj Auto
• TVS Motor Company

ii) List of India’s Three-wheelers Electric Vehicles manufacturers

• Mahindra Electric
• Piaggio Vehicles
• Atul Auto
• Omega Seiki Mobility (OSM)

ii) List of India’s Heavy-Duty Electric Vehicles manufacturers

• Tata Motors
• Ashok Leyland
• Eicher Motors (VE Commercial Vehicles)
• Mahindra Electric
• Olectra Greentech
• PMI Electro Mobility
• JBM 

2. EV Charger Manufacturers

The demand for charging solutions is rising, leading to the emergence of major EV charger manufacturers, such as:

• Servotech Renewable Power System
• Delta Electronics
• ABB India
• Tata Power EV Charging Solutions
• Exicom Power Solutions

3. EV Charging Infrastructure Developers

To support EV growth, various companies are developing charging networks across India, including:

• Incharz
• Tata Power
• Statiq
• ChargeZone
• Magenta Power
• Fortum India

Future of the Electric Vehicle Industry in India

India’s EV industry is poised for rapid growth, driven by strong government policies, increasing consumer demand, and advancements in battery technology. India’s electric vehicle market is projected to grow at a CAGR of 28.52%, reaching US$ 18.319 billion by 2029, up from US$ 5.22 billion in 2024. According to Fortune Business Insights, the market is expected to expand significantly, increasing from US$ 3.21 billion in 2022 to US$ 113.99 billion by 2029, with a 66.52% CAGR. By 2030, India aims for EVs to comprise 30% of private cars, 70% of commercial vehicles, 40% of buses, and 80% of two- and three-wheelers.EV sales are projected to reach 15.3 million units, with two- and three-wheelers leading. However, charging infrastructure remains a challenge, requiring 5.6–5.8 million public units. Battery costs, limited range, and reliance on imports are hurdles, but advancements in local manufacturing and alternative battery technologies will boost growth. This rapid growth is fueled by government incentives, rising consumer demand, and advancements in EV technology and infrastructure Green hydrogen and biofuels may play a future role.  

Conclusion

India’s electric vehicle industry is on a transformative journey, backed by supportive government policies, technological innovations, and increasing consumer demand. With a growing emphasis on sustainability and energy independence, EVs are set to become the preferred mode of transportation. As infrastructure and battery technology continue to evolve, the future of electric mobility in India looks bright, paving the way for a cleaner and greener tomorrow.

Servotech Power Systems Ltd., a leading manufacturer of Solar Products and EV Chargers rebrands as Servotech Renewable Power System Limited. The company has a long history in power conditioning products and name rebranding reflects its unwavering commitment to providing cutting-edge renewable energy solutions and aligns perfectly with its core vision: “Produce Green to Live Green”.

Originally focused on power conditioning products, Servotech has evolved over the past decade, progressively dedicating its resources and expertise to the renewable energy sector. This evolution has led to the company becoming a prominent manufacturer of solar products and EV chargers. The renaming to Servotech Renewable Power System Limited marks a crucial milestone in this journey, underscoring the company’s long-term vision to spearhead the transition to a sustainable energy future.

This rebranding is more than just a name change; it represents a complete realignment of the company’s focus. Servotech is now fully immersed in the “Produce Green to Live Green” philosophy, committing to developing and deploying technologies that minimize environmental impact and promote a cleaner future.

“We are incredibly excited to embark on this new chapter for Servotech,” said Raman Bhatia, Founder & Managing Director of Servotech Renewable Power System Ltd. (Formerly Servotech Power Systems Ltd.). “Our roots are in power conditioning, but our future is in green energy. This rebranding to Servotech Renewable Power System Ltd. communicates our unwavering commitment to driving the adoption of clean energy solutions and reflects our complete dedication to a sustainable future. We believe that producing green energy is essential for living green, and we are fully committed to this vision”, added Bhatia

Servotech aims to unlock vast opportunities, not only to contribute significantly to decarbonization efforts but also to emerge as a dominant player in the rapidly evolving energy landscape. The company is dedicated to providing innovative and comprehensive solutions that empower industries and communities to embrace a sustainable energy future, creating enduring value for both its esteemed customers and the environment.

People nowadays are rapidly switching to electric vehicles to experience smoother drives and save money against the purchase of expensive fuelling costs. The range anxieties associated with EVs are very big. In order to provide a feasible solution to this problem, the top EV charger manufacturers in India are continuously offering a wide range of innovatively designed AC and DC chargers for your Electric Vehicle. 

These charging equipment come with easy functionality and high efficiency. Therefore, you will always feel an enhanced charging experience while escaping all kinds of hassles & inconveniences. We have compiled a list of the top EV Charging Station manufacturers in India. You can easily scan this list to make a smart purchase and overcome all concerns related to EV charging.  

List of Top EV Charger Manufacturers in India

Here is the list of top EV charger manufacturers in India, which will help you to identify and buy the most suitable ev charger for your Electric vehicles with ease. 

1. Servotech Renewable Power System Ltd.

Servotech, India’s top EV charger manufacturer, offers an extensive range of highly-engineered AC and DC chargers for electric vehicles to avail the benefits of easy charging. Servotech operates from its head office in New Delhi, India, while having its manufacturing plant at Kundli, Sonipat, Haryana. Servotech has more than 20+ years of experience in the electronics manufacturing sector and is continuously growing. During this journey, Servotech Renewable Power System has provided many useful products to add convenience to people’s lives. 

Servotech Renewable Power System Ltd. forayed into the EV market in 2022 to actively contribute to the Indian EV charging infrastructure. As of May 31, 2023, the company has supplied more than 2400 AC & DC EV chargers to BPCL & Nayara Project sites, retail customers, commercial charging stations, and on a white label basis. The strategic locations of BPCL and Nayara retail fuelling sites at major Indian cities, including Uttar Pradesh, Gujarat, Maharashtra, Haryana, Rajasthan, etc., are easily accessible spots to experience fast EV charging with Servotech DC chargers. 

The company consistently believes in serving customers with improved EV charging solutions. Thus, R&D teams continuously upgrade tech-enabled charging solutions to ensure an enhanced charging experience for enthusiastic EV owners. Servotech has established several milestones in previous years in the Indian EV market. It is now planning to secure a rank among the top 3 EV charger manufacturers in India and play a key role in the international EV charging infrastructure. Therefore, it increased its global footprint by signing extensive partnerships and agreements with foreign players. Recently, the company signed an agreement with its distribution and marketing partner in the Middle East, Al Ansari Motors. 

To meet customers’ charging needs and achieve new success goals, Servotech sells durable AC and DC EV chargers of different specifications. Servotech always aims to sell more EV chargers to customers. Thus, Servotech maintains a wide distribution network with more than 30 distributors across India.    

The popular options in the Servotech EV AC charger range include 3.3 kW, 7.2/11 kW Type-2, 10 kW Bharat AC-001, and 14 kW Hybrid. On the other hand, our DC fast charger range includes 15kW, 20kW, 30kW pedestal CCS-2/ Charging Station Single Gun, 30kW Cabinet Model 2 CCS-2/ Charging Station Single Gun, 60kW CCS-2/ Charging Station – Dual Gun, and 120 kW CCS-2/ Charging Station – Dual Gun options. 

These chargers are ARAI certified as well as have received compatibility certificates from leading automakers like MG Motors and Tata Motors. All Servotech AC and DC EV chargers deliver an optimum charging experience with standardized convenience. Even the top regulatory bodies have appreciated the performance and functionality of Servotech chargers with several prestigious awards and certificates. Charging Company of the Year Award and Business Leadership Award in EV Chargers Manufacturing are the two foremost names on the award list. 

2. Tata Power EZ Charge

Tata Power EZ Charge is a Mumbai-based EV charger manufacturer, and its range includes different kinds of AC and DC chargers to meet customers’ specific needs. So far, it has installed over 3,000 public and semi-public EZ charge points in over 450 Indian cities. Tata Power has already partnered with several domestic and global EV makers like Tata Motors, MG Motors, and others to serve enthusiastic EV buyers. Additionally, it is continuously signing new partnerships with other companies to provide world-class charging infrastructure to customers. According to the data provided on the official website, Tata Power has a wide EV charger network with over 23,500 home charger installations and more than 240+ electric bus charging stations at over 25 Indian states and 5 Union Territories. It is the leading EV charger manufacturer in India and offers a wide range of high-performance AC and DC chargers to significantly support & contribute to e-mobility. The range of Tata EV chargers is large enough to help buyers easily purchase the most suitable EV charger. 

3. Exicom Tele-Systems Ltd

Exicom has its headquarters in Gurugram-Haryana, India. The extensive charger range of this manufacturer includes high-quality home & commercial charging solutions. During a long journey of over 20 years, it has deployed over 20,000 AC & DC chargers at various domestic & international locations. Exicom has partnered with leading EV manufacturers and is continuously growing to establish more milestones. To ensure smooth & quick implementation of e-mobility in the transportation sector, Exicom consistently introduces innovatively designed EV chargers. All chargers of this manufacturer are developed according to the latest designs and algorithms. Subsequently, they always ensure optimum charging.

4. Delta Electronics India

Delta Electronics India, a subsidiary of Delta Group, is a key player in power and energy management solutions. The company offers a wide range of EV charging products, from compact AC chargers to powerful DC fast chargers suitable for commercial and public installations. Known for its focus on energy efficiency and smart charging, Delta’s chargers are designed to meet both residential and large-scale infrastructure needs. With a strong R&D background and growing manufacturing capacity in India, Delta has been contributing significantly to the country’s EV ecosystem by providing reliable and sustainable charging solutions.

5. ABB India

ABB India is one of the global leaders in electrification and automation, and it has established a strong presence in the EV charging segment. The company provides advanced AC and DC fast charging systems that are widely used in commercial and fleet applications. ABB’s Terra Series chargers are recognized for their robust design, high performance, and connectivity features. With a focus on innovation and reliability, ABB India supports the country’s push towards electrified mobility through smart charging infrastructure that ensures uptime and safety.

6. Fortum India

Fortum India, now operating under the name GLIDA, is part of the Finnish clean energy company Fortum. It has built a strong EV charging network across India, focusing on reliable and fast-charging infrastructure. GLIDA offers a fully integrated system combining hardware, operations, and digital solutions that ensure easy access for users. With several fast-charging hubs operational in cities like Hyderabad and Gurugram, Fortum India continues to strengthen India’s EV charging ecosystem by promoting sustainable mobility solutions.

Fortum has been operating its business activities since 1980. Its Charge & Drive brand was commercialized in 2011. Since that point in time, this EV charger manufacturer has offered highly engineered EV charging equipment for home and commercial charging. So, you will easily find an EV DC 50/​​60 kW charger to start a commercial charging station. Options for EV DC 15/20 kW charge are also available in the range. The high-performance EV chargers from Fortum never face any kind of problem in charging electric vehicles. These chargers are available with different specifications, so customers never leave empty-handed while looking for the best suitable charging equipment according to the profile of their electric vehicles.

7. Ather Grid

Ather’s office is located in Karnataka, India. As per its business strategy, Ather has installed over 1000 grid points at strategic locations of major Indian cities like Delhi, Mumbai, Bengaluru, and others. Ather is very ambitious to serve EV owners and is continuously working to set up more grid points at other important locations in India. The conveniences & interests of EV owners always remain top priorities for Ather. Just because of this business standard, Ather’s R&D teams keep improving the performance & efficiency of the Ather grid regularly for a delightful charging experience.   

8. Volttic

Volticc established its office in Uttar Pradesh, India, and continuously contributes to EV charging infrastructure with a wide array of home & commercial charging solutions. The hosts for commercial charging stations will easily find fast DC chargers up to 150 kW, and a 3.3 kW EV AC charger for home charging is also available in its wide range of chargers. During its journey in the EV charging market, the company has established commercial charging stations in multiple Indian cities, including Kochi, Jaipur, Pune, and others. Volticc also has big plans to serve the global markets. Thus, it is planning to sign new partnerships and agreements with foreign companies. These chargers always prove to be the finest EV charging solutions to use. Volticc always manufactures all chargers with the intelligent usage of the latest concepts and technologies so that EV owners can easily escape all discomfort during home or commercial EV charging.  

9. Griden Power

Griden Power is an emerging Indian EV charger manufacturer based in Ahmedabad. The company provides both AC and DC charging solutions designed to suit residential, commercial, and public use cases. Known for its locally manufactured products and quick installation support, Griden Power focuses on affordability and scalability. As one of the growing Indian brands in this sector, it aims to make EV charging infrastructure more accessible across the country.

10. Bolt.Earth

Bolt.Earth is an Indian EV charging solutions company that has rapidly expanded its network across multiple cities. The company provides both AC and DC charging hardware along with its own intelligent software platform for monitoring and managing chargers. Bolt.Earth’s ecosystem is designed for convenience, offering a seamless experience for users via its app and cloud-based systems. Its commitment to interoperability and user accessibility makes it one of the most trusted names in India’s growing EV charging landscape.

11. Magenta ChargeGrid

Mumbai-based EV charger manufacturer Magenta started its journey in 2017 and significantly contributes to the EV charging infrastructure of India with its highly advanced ChargeGrid. According to the official website, ChargeGrid currently has a presence in over 25 major Indian cities and is consistently growing. The abundant array of hi-tech ChargeGrid of Magenta is capable enough to offer the most suitable charging solutions to EV owners. These highly efficient charging facilities deliver uniform services & performance for all customers. 

12. Charzer

It was incorporated in 2020 and established its headquarters in Karnataka, India. To meet EV owners’ specific needs, it offers an EV AC 7.4 kW to EV DC 50 kW chargers with easy functionality. These chargers are easily available in the leading major Indian cities. Therefore, EV owners will never face any kind of problem in finding one. New agreements and partnerships with several domestic & international players are also underway to enjoy convenient charging at more locations. The EV chargers from Charzer are specifically made to support & promote futuristic mobility. These tech-enabled chargers continuously deliver stable currents to ensure safe charging and keep the battery safe against unpredictable situations.

13. Okaya Power

E-Fill Electric is an Indian manufacturer offering a variety of EV charging solutions along with electric three-wheelers. The company provides AC and DC chargers that serve different segments of India’s EV market. With a focus on innovation and cost-effective technology, E-Fill Electric aims to strengthen the country’s charging infrastructure, especially in semi-urban and developing regions. Its dual expertise in vehicle and charger manufacturing allows it to deliver integrated solutions that support the broader EV ecosystem.

14. E-Fill Electric

Okaya Power, a well-known name in the energy and battery sector, has expanded into EV charging solutions through its Okaya EV division. With decades of experience in power electronics and batteries, Okaya brings a strong foundation to its EV charging products. The company offers a range of chargers catering to both private and commercial users, supported by its extensive service network across India. Okaya’s entry into the EV domain showcases its commitment to building a self-reliant and sustainable energy ecosystem.

Conclusion

The EVs are the most trustworthy solutions to positively transform the future of mobility. Besides, people can easily fetch multiple benefits from EVs like savings against expensive fuelling costs, low maintenance, smooth driving experience, and more. The authorities also offer subsidies, relaxation on vehicle registration fees, etc. on purchasing EVs. Always check local policies before purchasing and appropriately apply as per the rules and regulations to avail the expected benefits.   

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