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CBRE South Asia, the leading real estate consulting firm in India, announced that they estimated the real estate requirements for manufacturing electric vehicle (EV) batteries would reach 2,400 acre by 2030 due to the government's EV adoption targets. According to the report titled 'Electric Vehicles in India - New Wheels on the Roads', it was pointed out that Uttar Pradesh and Maharashtra were the leading states in manufacturing charging infrastructure. Maharashtra had the highest count of sanctioned EV chargers, with 317 chargers, followed by Gujarat with 278 EV chargers. At present, India imports raw materials to manufacture lithium-ion cells, which account for 77 percent of the total manufacturing cost. However, there was a significant development in February this year with the discovery of a 5.9-million-tonne lithium reserve in Reasi district in Jammu and Kashmir. This discovery would reduce India's dependence on imported lithium. The current primary clusters for lithium-ion battery (LiB) manufacturing were located in Chennai, Hyderabad, Pune, Prantij, Surat, Mandal, Delhi-NCR, Gurugram, and Mohali. The report estimated that the real estate requirements for manufacturing facilities of four-wheeler and two-wheeler (4W and 2W) electric vehicles would be approximately 13 million square feet by 2030. It further stated that by 2030, the real estate requirements would support a production capacity of around four million units of 4Ws and 23 million units of 2Ws. The creation of an indigenous EV manufacturing ecosystem has been made possible by several policy enablers implemented by state and union governments, which incentivized investments from global or domestic players. From 2020 to 2023, Maharashtra and Tamil Nadu led EV investments, each contributing 15 percent to the cumulative $28.8 billion investment. Karnataka accounted for 11 percent, Gujarat 8 percent, and Uttar Pradesh and Telangana both recorded a 7% share. For the current year, the EV sector has recorded investment announcements totaling $6.2 billion so far. In 2022, there were investment announcements of over $17.1 billion in the EV industry by global and domestic players, representing a year-on-year increase of about 287% compared to $4.4 billion in 2021. During the same period, more than half of the investments came from EV component manufacturers. EV manufacturers and e-mobility start-ups are focusing on establishing their presence in the primary automotive clusters in India. In 2022, Uttar Pradesh took the lead in registered EV annual sales with a 16% share, followed by Maharashtra with 13% and Karnataka with 9%. The Indian EV market is expected to grow at a compounded annual growth rate (CAGR) of about 49% between 2021 and 2030, surpassing annual sales of 17 million units by 2030. Tamil Nadu, Maharashtra, and Haryana are the leading states in EV manufacturing in India, while Karnataka, Telangana, and Tamil Nadu are the leading states in battery manufacturing. Karnataka and Tamil Nadu also lead in research and development (R&D). Also read: Government of Andhra Pradesh invites tenders for worksAjmer DISCOM Invites Bids for Solar Projects in Rajasthan