Business & Investment

Where are the charging stations for EV buyers?

The government aims to make India a 100% electric vehicle (EV) nation by 2030. This is a tough goal without early adoption of EV technology for public transport and a robust EV charging infrastructure nationwide.

Today, electric vehicles are mainly represented by private motorcycles and tricycles such as commercial rickshaws and merchandise carriers. In 2020, only 4,000 EV four-wheeled vehicles were sold. One of the bugbears is an inadequate EV charging infrastructure, ultimately only 1,332 public charging stations nationwide.

To speed up EV mobility, the government has introduced a FAME (Faster Adoption and Manufacturing of Electric and Hybrid Vehicles) schemes for investors. In Phase 2 or FAME II, there were plans to install 2,636 charging stations in 52 cities. The allocation of funds to 1.6 million EVs in 2019-22 was Rs 100 billion, of which Rs 100 billion was directed to EV charging infrastructure. More than a dozen states are showing interest, but the pandemic is slowing down.

Meanwhile, a model-based analysis of the economic and policy momentum needed to scale up public EV charging stations is available at the Natural Resources Defense Council (NRDC), Gujarat Energy Institute (GERMI), and Management Staff College. Created by India (ASCI). Currently, the focus is on Hyderabad in Telangana and Ahmedabad in Gujarat.

Telangana plans to adopt 100% EV sales for public and shared transportation by 2030. The first 500 stations offer a capital subsidy of 25% of the cost of a charging device of up to Rs 50,000 per station. Gujarat aims to sell an EV of 10,000 rupees by March 2022.

The NRDC and other key recommendations are:

Governments need to implement integrated policies at the national, state, and city levels.

To attract investment, you need to provide financial relief to cover the initial cost of capital for your hardware and charging infrastructure. The land of the charging station should be identified with an emphasis on long-term leases and low interest rates.

The government needs to secure attractive rates for EV charging. ToD (time) charging shortens charger payback, flattens peaks in power demand, improves grid stability, and reduces operating costs for EV users.

The final analysis is all about planning ahead. Rajkiran Bilolikar, an associate professor at ASCI, briefly states: “The future is in electric cars. Now is the time to reorganize and lay a stronger foundation for its emergence … Now it’s important to” charge “yourself with essential infrastructure. is. “

Where are the charging stations for EV buyers? Where are the charging stations for EV buyers?

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