eReadiness 2026: India's EV Mobility Shift | PwC

As the global automotive industry hurtles toward an electrified future, PwC's latest eReadiness 2026 report asks a pivotal question: can electric mobility shift into a higher gear? For India, the answer is nuanced. The country stands at a crossroads, with ambitious targets, evolving infrastructure, and a consumer base that is increasingly curious but still cautious. The report, titled "eReadiness 2026: Can electric mobility shift into a higher gear?", provides a comprehensive look at the readiness of various markets, including India, to embrace electric vehicles (EVs) at scale. It highlights that while progress has been made, significant hurdles remain in charging infrastructure, affordability, and supply chain localisation.

India's EV journey has been marked by policy pushes such as the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme and state-level incentives. According to the PwC report, India's eReadiness index reflects a mixed picture. The country scores moderately on factors like consumer acceptance and government support but lags in charging density and grid readiness. Analysts say that without a rapid build-out of charging stations, the adoption curve will remain shallow. The report notes that India's EV sales penetration, though growing, is still in single digits for passenger vehicles, with two- and three-wheelers leading the charge. This skew indicates that while commercial and shared mobility may electrify faster, personal car buyers are yet to be convinced.

The table below summarises key eReadiness indicators for India compared to global averages, based on data from the PwC report. It shows that India's strengths lie in its policy framework and market potential, but infrastructure and technology readiness need urgent attention.

One of the report's key takeaways is that electric mobility's shift into a higher gear depends on collaborative action. Automakers, battery manufacturers, and governments must work in tandem to address the chicken-and-egg problem of charging infrastructure and EV uptake. In India, the report suggests that leveraging public-private partnerships could accelerate the rollout of charging stations, especially in urban hubs and along highways. Furthermore, localising battery production under the Production Linked Incentive (PLI) scheme is expected to reduce costs and make EVs more affordable. However, analysts caution that without a stable policy environment and consistent taxation, investors may hesitate.

"The transition to electric mobility is not just about vehicles; it's about building an ecosystem that includes charging, financing, and after-sales support. India has the potential to leapfrog, but it needs a coherent strategy."

The quote above, though not attributed to a specific individual, encapsulates the sentiment of the PwC report. It underscores that India's eReadiness is a work in progress. The report also touches upon the role of technology, such as smart charging and vehicle-to-grid integration, which could alleviate pressure on the grid. For India, where power supply can be erratic in some regions, such innovations are critical. Additionally, the report highlights that consumer education is paramount. Many potential buyers still harbour range anxiety and concerns about resale value. Addressing these through awareness campaigns and better financing options could nudge the needle.

Looking ahead to 2026, the PwC report projects that if current trends continue, India may not meet its ambitious EV penetration targets. However, with accelerated efforts, there is a window of opportunity. The report calls for a phased approach: first, electrify public transport and commercial fleets; second, expand charging networks; and third, incentivise personal EV adoption. This sequential strategy, analysts say, could create a virtuous cycle. Moreover, India's renewable energy push, with solar and wind capacity additions, can make EVs truly green, reducing reliance on coal-fired power.

In conclusion, eReadiness 2026 paints a picture of cautious optimism. Electric mobility can shift into a higher gear in India, but it requires a concerted push from all stakeholders. The road ahead is long, but the direction is clear. As the report implies, the question is not whether India will electrify, but how fast and how well. For more insights on the automotive future and electric mobility, visit AutoVerse.