Electric vehicle (EV) exports could play a pivotal role in scaling up domestic production and improving cost competitiveness, according to a joint report by FICCI and Yes Bank.
The study highlighted that expanding overseas shipments would enable manufacturers to achieve higher production volumes, optimise capacity utilisation and lower per-unit costs through economies of scale. This, in turn, could strengthen India’s position as a competitive EV manufacturing hub.
The report noted that while domestic demand for electric vehicles is steadily rising, tapping export markets in Asia, Africa, Latin America and parts of Europe would provide additional growth momentum. Competitive pricing, localisation of components and advancements in battery technology were identified as key enablers for export expansion.
It also underscored the importance of policy stability, trade agreements and supply chain resilience in supporting outbound shipments. Incentive schemes, improved charging infrastructure and investments in research and development were cited as critical to sustaining long-term competitiveness.
Industry stakeholders believe that a strong export push would not only help scale production but also attract global investments into India’s EV ecosystem, fostering innovation and job creation across the value chain.