Growing EV ecosystem demands massive realty needs

According to Colliers, growing EV momentum opens the potential for realty development across 13,000 ac of land in Bengaluru taking note that 2,200 ac have been already acquired for EV ecosystem and anticipates that the requirement will further increase to +45 million sq ft by 2030. In the current market scenario, penetration rate is 8% with an estimated 2 million EVs to be sold in 2024.