The EV Opportunity

THE RAPID SURGE in the sales of electric vehicles (EVs) has opened up a `3-lakh crore business opportunity for manufacturers and supplementing sectors. A report by CRISIL says EVs offer a potential revenue of `1.5 lakh crore across vehicle segments for manufacturers alone till 2026. For lenders, it is a `90,000-crore vehicle finance opportunity, with shared mobility and insurance accounting for the balance. Hemal Thakkar, Director, CRISIL Ltd, says improving cost parity and the government’s thrust may take EV penetration to 15 per cent in twowheelers, 25-30 per cent in three-wheelers, and 5 per cent each in cars and buses by fiscal 2026.