Overview

• CareEdge Advisory forecasts that electric cars will exceed 7% of total car sales by FY28 if rare-earth supply constraints are resolved
• Electric-car sales climbed from just over 5,000 in FY21 to 107,000 units in FY25, a twenty-fold increase
• Public charging stations have surged nearly fivefold since 2022 to more than 26,000 sites under state and public-private partnership programs
• FAME III incentives, the PLI scheme for advanced-chemistry batteries and zero customs duty on 16 key minerals are driving down production costs
• Tesla’s market entry and policy-driven battery localisation aim to cut lithium-ion cell imports to about 20% by FY27