Image Source : UNSPLASH The government has also set ambitious targets for the adoption of EVs, with plans to have 30% of all vehicles on the road to be electric by 2030.
As the adoption of electric vehicles (EVs) in India continues to grow, there is an increasing need for a significant push in the development of charging infrastructure. According to a report by Counterpoint, the country is expected to receive around 10,000 public charging stations by 2025.
The growing demand for EVs in India is driven by a number of factors, including concerns about air pollution and the need to reduce dependence on fossil fuels. The government has also set ambitious targets for the adoption of EVs, with plans to have 30% of all vehicles on the road to be electric by 2030.
BUDGET 2023: FULL COVERAGE
However, the lack of a comprehensive charging infrastructure remains a major hurdle in the widespread adoption of EVs. With a limited number of charging stations currently available, many EV owners are hesitant to make the switch. To address this issue, the government has announced plans to install 5,000 charging stations in major cities by 2020, while private companies such as Tata Power and Reliance Industries are also investing in the development of charging infrastructure.
“We are working with PSUs and corporates to cater to their demand of EV charging solutions and its upkeep. We are working with EV fleets as well to enable the right solutions to ensure they ply seamlessly in their areas of operation. We are setting up community charging stations in societies in metro cities at no cost,” IANS quoted Raghav Arora, Co-Founder and CTO of EV charging solution provider Statiq.
ALSO READ: Budget 2023: Major expectations of the Indian MSMEs from the Finance Ministry
In addition to government and private investments, there is also a need for collaboration between different stakeholders, such as automakers, charging station operators, and utility companies, to ensure the effective roll-out of charging infrastructure. This includes the development of standardization for charging connectors and payment systems.
Soumen Mandal, senior research analyst, IoT, automotive, and device ecosystem at Counterpoint, claims, “By 2025, the market share of electric passenger vehicles in India is expected to increase to more than 6 per cent. In terms of EV adoption, the three-wheeler segment is leading the market with a 4 per cent share, followed by two-wheelers (3.5 per cent) and passenger vehicles (1.3 per cent).”
FAQs
Why is charging infrastructure important for EV adoption in India?
Charging infrastructure is crucial for EV adoption in India because it allows electric vehicle owners to conveniently and reliably charge their vehicles. Without adequate charging infrastructure, EV adoption may be hindered.
What is the current state of charging infrastructure in India?
Currently, the charging infrastructure in India is still in the early stages of development. While some charging stations are available, they are not yet as widespread or reliable as they need to be to support widespread EV adoption.
Latest Business News
Source link
