India's EV charging stations: Opportunities and challenges amid rising awareness about electric vehicles

with more people becoming aware of the impact of global warming, making green-friendly choices to combat extreme climate change is the way to go. Consequently, global buyers are now considering electric vehicles (EVs). We can observe a major shift taking place in the automotive sector worldwide as it strives to adopt alternative options to fossil fuels. Rising oil prices are another significant reason for India’s rapid transition to e-mobility. Furthermore, at the Conference of the Parties 26 (COP26) Summit, India committed to an ambitious goal of achieving a minimum of 30 per cent private ownership of EVs by 2030.

According to a report by Moody’s Investors Service, India boasts the fourth-largest car market globally, yet EV penetration currently stands at just 1 per cent. The report also indicates that government incentives to promote EV adoption, including tax incentives, subsidies for EV manufacturers, local battery manufacturing support, as well as incentives for buyers at the state level and GST rate cuts, may help drive EV adoption in India. State governments, such as Karnataka and Uttar Pradesh, have taken steps to promote EV adoption by announcing benefits for prospective buyers.

More from Opinion

Two billion people, one global order: How India-EU mega trade deal is a game changer One year of Al Sharaa: Syria’s fragile transition amid ethnic tensions and international pressures

However, a major challenge for EV adoption in India is the lack of strong charging infrastructure.

Trends and developments

The EV charging station market in the country is changing fast with some major developments and trends emerging over the past few years.

• **JV between operators and EV-makers:**Charging station operators are joining hands with EV makers to set up charging infrastructure across India. For instance, Tata Power has entered into a partnership with Jaguar Land Rover to set up charging stations for their EVs, while MG Motor has joined hands with Fortum Charge and Drive to build fast-charging stations.

• **Utilising green energy sources:**Several charging station operators are adopting such green energy sources as solar power. This not only cuts down on the carbon footprint of the charging stations but also helps address the power shortage issue in some parts of the country.

• **Taking the help of digital platforms:**Many charging station operators are taking the help of digital platforms to offer real-time information about charging stations to users. For instance, EV Motors has created a new mobile app to provide information about nearby charging stations.

• Growing charging infrastructure: The government has made it compulsory for public parking lots and fuel stations with over 5,000 square meters to have EV charging stations. This is likely to increase the number of charging stations in the country significantly.

• Fast-charging technology: Many charging station operators are adopting fast-charging technology to lower charging time for EVs.

Challenges for charging station market

In the past few months, the EV charging station market in India has seen some promising developments, but there are still several challenges that need to be resolved. These are:

• A huge amount of capital investment is required to set up a charging station

• A stark absence of standardisation

• Limited grid capacity

• No basic awareness among consumers

• Limited access to funding

The next steps in the process

But, despite the challenges, some steps can be taken to promote the growth of the EV charging station market in India. The government can:

Quick Reads

View All

Xi’s China: When too much control becomes a systemic risk

Germany recognises the China challenge — but still hesitates

• Promote public-private partnerships

• Develop standards for EV charging infrastructure

• Invest in grid infrastructure

• Make consumers aware of EV and charging infrastructure benefits

• Offer funding and incentives to small and medium businesses

Conclusion

The future of EV charging stations in the country looks promising with several major trends and developments that have emerged over the past few years. But several challenges must be resolved soon including high capital costs, lack of standardisation, limited grid capacity, lack of awareness among consumers and limited access to funding. By taking steps to address the challenges that face the EV market, India can continue to promote the adoption of EVs and build a robust charging infrastructure to support them.

The author is Vice-Chairman and Managing Director, Kabra ExtrusionTechnik Ltd. Views expressed in the above piece are personal and solely that of the author. They do not necessarily reflect Firstpost’s views.

Read all the Latest News, Trending News, Cricket News, Bollywood News,
India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.