India has been actively promoting the use of electric vehicles (EVs) since 2015, with the center and several state governments coming up with new policies to stimulate the adoption of electric vehicles. The efforts appear to be paying off, as sales of electric vehicles are steadily rising. For a country the size of India, trying to transition to electric vehicles makes sense. However, we need a robust charging infrastructure as a prerequisite for a successful transition towards electric vehicles, and India appears to be struggling there currently. Having a wide network of electric vehicle charging stations is essential to inspire people to purchase electric vehicles and increase consumer confidence.
When deciding to switch to electric vehicles, drivers who have used petrol or diesel vehicles for a long time will always compare how easy it is to locate a gas station with how easy it is to locate a public charging station. According to data from the Federation of Automobile Dealers Associations (FADA), adoption of electric vehicles increased significantly between fiscal year 2020 and fiscal year 22, with sales of electric vehicles up 155% year-over-year in fiscal year 22.
We have 50,000 four-wheeler EVs registered on the road, but the number of public charging stations operating in the country for them is only 1,800.
Electric vehicle charging market in India
In its latest report, ICRA, which is backed by Moody’s, indicated that by fiscal year 25, two-wheeled electric vehicles will make up roughly 13-15% of new car sales, while the percentages of electric three-wheelers and e-buses will make up They are more than 30% and 8-10% higher, respectively.
The Government of India has set a strict target for the electrification of 70% of all commercial vehicles, 30% of private cars, 40% of buses, and 80% of sales of two- and three-wheeled vehicles by 2030. This strong target will need time. Penetration of charging stations across India.
The ICRA adds in its study that the growth of charging infrastructure, which is currently at an embryonic level, would play a vital role in the penetration of electric vehicles. India is likely to add around 48,000 additional chargers for electric vehicles with an investment of around Rs 14,000 crore over the next 3-4 years amid a healthy penetration of electric vehicles in the country.
Future Outlook for Electric Vehicle Charging Market in India
The electric vehicle charging equipment market in India will generate significant revenue due to increased penetration of the electric vehicle market and increased government initiatives to develop electric vehicle charging infrastructure. With the right government policies, a local supply chain, lower battery prices and widespread vehicle charging infrastructure, the electric vehicle market could contribute $6.4 billion in the next five years.
Electronic rickshaws, eAutos and e2Ws are the most promising electrification segments in India and will constitute more than 4 million units by 2025.
strong government pressure
There have been ongoing and extended policy interventions at the state and central level to ensure the deployment of charging infrastructure in the past few years. Treating electric vehicle charging as a “service” was the first and most important step. It allows anyone to set up and operate a charging station for electric vehicles without the need for a license.
The Government of India has supported the electric vehicle industry through schemes such as FAME1 and FAME2 which focus heavily on charging infrastructure. Players in the industry have been very encouraging and have shown an enthusiastic interest in the overall EV charging ecosystem. While electric vehicles are being worked on by notable OEMs, the ecosystem for developing chargers, charging stations and other services is growing exponentially.
Biogas electric charging stations
Companies are constantly working to improve the energy storage capacity of electric vehicles. At the same time, electric vehicle charging infrastructure is an important opportunity, and fast charging stations are popping up all over urban areas. Many charging stations are powered by the network. Grid power in India relies on power plants that use coal as an energy source. At this crossroads, the critical question of whether EV is really “green” matters.
Electric cars in India will soon have the option of switching to carbon-neutral operations as the government attempts to provide renewable energy to charging stations, an initiative that is the first of its kind worldwide. One method is methane bioremediation – converting organic waste into renewable fuels in the form of biogas. Large-scale purification and conversion of biogas into BioCNG for use as an automobile fuel is being encouraged by the Sustainable Alternative Towards Affordable Transportation (SATAT) initiative.
The best example of a charging station for electric vehicles using biogas produced by a bio-methane plant next to it is the recent installation in Haji Ali, Mumbai. At the Haji Ali electric vehicle charging station, diesel/gasoline has been replaced by biogas, an alternative to green fuels. This electric vehicle charging station uses renewable energy as its input, and supplies it to charge electric vehicles.
Green EV charging stations are the future
The transportation industry is undergoing a massive transformation, with sustainable electric motors slowly replacing combustion engines. The only way to make this vision completely green is if the electricity used to power these hybrid cars is also produced in an environmentally friendly process.
We have made noteworthy strides in the electric vehicle sector, and active collaboration between policy makers, companies and other players will be essential in rapid adoption and transition to green mobility. The foundations have been laid, and it is now critical to build on them to advance India’s ambition to achieve a net-zero carbon footprint and contribute positively to the cause of global climate change.
This article was written by Chetan Wallong, CEO and Founder of Repos. All opinions are subjective.