India Electric Vehicle Market Size and Forecast 2026-2030, Q2 2026 Update | Market to Reach US$194.6 Million by 2030 as Two-Wheelers, SUVs, Charging, and Batteries Drive 8.5% CAGR

India's electric vehicle market is projected to grow from US$128.9 million in 2025 to US$194.6 million by 2030, driven by two-wheelers, three-wheelers, and SUVs. Electric two-wheelers and three-wheelers lead adoption due to frequent use and predictable routes, while passenger EV demand shifts toward SUVs with flexible ownership models. Battery localization and public charging infrastructure development are accelerating, with legacy automakers increasingly competing against EV-focused companies through established dealer networks and service capabilities.