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EV Manufacturing Require 13 Million Square Feet of Land by 2030, Says CBRE
There are numerous policies for quicker adoption of EVs have provided a boost and incentive for investments in the Indian EV manufacturing area from domestic and global investors.
June 03, 2023. By EI News Network
Coldwell Banker Richard Ellis (CBRE) in its report has explained that the four and two-wheeler EV market in India will require 13 million square feet of land by 2030 for augmentation.
The report arrives at a time when the nation has committed to taking a completely carbon-neutral approach by releasing all its high-emission vehicles and switching to more sustainable advanced electric vehicles.
There are numerous policies for quicker adoption of EVs have provided a boost and incentive for investments in the Indian EV manufacturing area from domestic and global investors.
The report shows the requirements in terms of the EV expansion process. The EV battery manufacturing amenities projected to be the backbone of the industry will need about 2,400 acres of land by 2030.
The requirement is under consideration the production capacity of approximately 4 million four-wheeler EVs and 23 million two-wheeler EVs by 2030.
Currently, EV manufacturers in India prefer and depend on built-to-suit (BTS) and leased facilities. This process has been mainly ensured to take advantage of the relaxation in capital deployment, lease term flexibility, speed to market, and location advantages.
The states have participated in this sector between 2020 and 2023, Maharashtra and Tamil Nadu led the EV investments with a 15 percent share each of the cumulative USD 28.8 billion investments. Whereas Karnataka accounts for 11 percent, Gujarat 8 percent and UP and Telangana 7 percent each.
According to the report, the total infrastructure upgrade will be based on industrial parks, standalone manufacturing facilities, and different warehouse operations, which would assist the market's ability to fulfill and act with the rising demand.
The establishment of warehouses in proximity to the manufacturing hub, which would provide the storage of lithium-ion batteries, will be essential to warehouse operations that would ascertain operational efficiency too.
The report arrives at a time when the nation has committed to taking a completely carbon-neutral approach by releasing all its high-emission vehicles and switching to more sustainable advanced electric vehicles.
There are numerous policies for quicker adoption of EVs have provided a boost and incentive for investments in the Indian EV manufacturing area from domestic and global investors.
The report shows the requirements in terms of the EV expansion process. The EV battery manufacturing amenities projected to be the backbone of the industry will need about 2,400 acres of land by 2030.
The requirement is under consideration the production capacity of approximately 4 million four-wheeler EVs and 23 million two-wheeler EVs by 2030.
Currently, EV manufacturers in India prefer and depend on built-to-suit (BTS) and leased facilities. This process has been mainly ensured to take advantage of the relaxation in capital deployment, lease term flexibility, speed to market, and location advantages.
The states have participated in this sector between 2020 and 2023, Maharashtra and Tamil Nadu led the EV investments with a 15 percent share each of the cumulative USD 28.8 billion investments. Whereas Karnataka accounts for 11 percent, Gujarat 8 percent and UP and Telangana 7 percent each.
According to the report, the total infrastructure upgrade will be based on industrial parks, standalone manufacturing facilities, and different warehouse operations, which would assist the market's ability to fulfill and act with the rising demand.
The establishment of warehouses in proximity to the manufacturing hub, which would provide the storage of lithium-ion batteries, will be essential to warehouse operations that would ascertain operational efficiency too.
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