According to a report named ‘Electric Mobility in Full Gear’ by Colliers and Indospace, India will be witnessing investments worth $12.6 billion across the automotive value chain over the coming five years.
The Indian real estate sector apparently benefits from these investments concerning additional manufacturing units, industrial parks, and the focus laid upon last-mile delivery by e-commerce firms.
That has been coupled with several other factors, such as electrification of public transport and the tax benefits and incentives offered to first-time buyers of electric vehicles (EVs).
The southern states of Tamil Nadu and Andhra Pradesh top the list amongst States in terms of the planned investments for EVs. They will be bagging 34 per cent and 12 per cent of the total investments, respectively, as per the report.
“Real estate players can tap into the opportunity for manufacturing, warehousing, charging stations and dealerships of EVs. The government has a conservative scenario of manufacturing 110 GWh of EV batteries by 2030. This development can spawn manufacturing requirement of about 1,300 acres of land pan-India,” Colliers’ senior executive Ramesh Nair was quoted by The Economic Times.