Electrifying the Future

The Evolution of Electric Vehicle Infrastructure

- Rahul Mittal

The electric era is here and it’s all about infrastructure. As global consciousness shifts towards sustainable practices, electric vehicles (EVs) are rapidly becoming the transportation mode of choice. This transformation, however, is not just about the vehicles themselves but also about the infrastructure that supports them. From charging stations to battery production facilities, the backbone of the EV revolution is its infrastructure.

The Current State of EV Infrastructure

The year 2022 was a watershed for the EV industry. Electric car sales globally exceeded the $10 million mark. Leading this electric charge was China, leveraging its vast manufacturing base and proactive government policies. It accounted for a staggering 60% of global electric car sales. Europe wasn’t far behind, witnessing a 15% surge in sales, translating to one in every five cars sold being electric. The United States, while starting from a smaller base, saw an impressive 55% growth in electric car sales, capturing an 8% market share.

While the dominant players continue to grow, emerging markets like India, Thailand, and Indonesia are showing promising signs. These nations tripled their electric car sales in 2022 compared to the previous year, reaching a combined total of 80,000 units. India’s government, recognizing the potential of EVs, has rolled out a USD $3.2 billion incentive program, which has already attracted investments totaling USD $8.3 billion.

The Growth of Infrastructure