India”s automotive landscape is undergoing a revolutionary transformation with the wheels of electrification in full motion. The potential for innovation in emerging avenues and global market engagement could translate into a substantial opportunity ranging from $25 billion to $40 billion by 2030. A recent report by McKinsey highlights the remarkable prospects available for Indian suppliers to broaden their activities within both conventional and emerging electric vehicle (EV) sectors, on both domestic and international fronts. Simultaneously, the government”s resolute commitment to local EV manufacturing, bolstered by initiatives like FAME 2, has spurred interest from global giants such as Tesla, to establish EV and battery production facilities within India. Notably, the sale of EVs surpassed one million units in FY23, marking a significant milestone, as reported by The Times of India.

According to the Economic Survey 2023, India”s domestic electric vehicle market is anticipated to experience a compound annual growth rate (CAGR) of 49 % from 2022 to 2030, resulting in 10 million annual sales by 2030. Furthermore, it is predicted that the electric vehicle sector will generate approximately 50 million jobs, both direct and indirect, by the year 2030.

Empowering the Workforce for the EV Future

Prominent Indian automobile giants such as Tata Motors and Mahindra & Mahindra have initiated EV production, while international players are also joining the fray. Among them, Swedish luxury automaker Volvo Cars is actively exploring the prospect of establishing a new electric vehicle manufacturing facility beyond China, with India positioned as a strong contender in this endeavour.

Simultaneously, the charging infrastructure is undergoing significant expansion, fueled by investments from both governmental bodies and private enterprises in the establishment of charging stations. Evidencing this progress, the country”s inaugural EV charging plaza was introduced by EESL in July 2020, and within a mere year, the count of charging stations has surged by more than five-fold.

The enthusiasm for EVs is notably pronounced in the national capital, where the success of the Delhi EV Policy, launched in 2020, is evident. By December 2022, EVs had captured a significant 16.8 percent share of all vehicle sales in Delhi, achieving an impressive year-on-year growth rate of 86 percent.

Crucial EV Skills in Demand

Professionals venturing into the EV realm must possess a comprehensive understanding of battery technology, electric powertrains, charging infrastructure, and vehicle design. Establishing a robust charging ecosystem emerges as a pivotal enabler for widespread EV adoption. Specifically, experts specializing in EV charging station design, installation, and network management are experiencing heightened demand. The EV landscape further calls for expertise in battery technology, energy management, data analytics, IoT integration, sales and marketing, environmental consciousness, and a commitment to sustainability.

Startups Spearheading a Talent Resurgence

Startups at the forefront of the EV domain are leading an extensive recruitment drive, actively seeking professionals with diverse skill sets and varying levels of experience. At the beginning of 2023, Union Finance Minister Nirmala Sitharaman announced in Parliament that the electric vehicle (EV) industry is poised to generate a total of 5 million jobs, both direct and indirect, by the year 2030. A transformative shift is sweeping through the worldwide automotive landscape, carrying profound implications for the energy sector. The widespread adoption of electrification is projected to eliminate the requirement for 5 million barrels of oil per day by 2030.

Paving the Way for an Electric Infrastructure Revolution

The market participation of electric passenger vehicles within India is poised to surge beyond the 6% threshold by 2025. In the realm of electric vehicle (EV) adoption, the forefront is occupied by the three-wheeler segment, claiming a notable 4% share, trailed by two-wheelers at 3.5% and passenger vehicles at 1.3 percent. The forthcoming surge in EV adoption hinges on infrastructure development, a unique blend of skills, adaptability, and a forward-thinking mindset. There is a critical barrier to category-wide adoption in the space of charging solutions which must be developed where the next jump will come from.

Anticipating a Flourishing EV Ecosystem

Anticipating an exponential expansion of India”s EV ecosystem in the coming five to six years, investments worth $20 billion are earmarked for this burgeoning sector. As the landscape evolves, professionals embarking on careers in this dynamic field must possess a distinctive blend of adaptability, forward-thinking, and a unique set of EV-centric skills. The transformation extends beyond new entrants, as existing talent is primed for significant upskilling, propelling them into an unquestionably electric future.