The summit recognized that achieving India's vision of 30% EV adoption by 2030 will require a coordinated effort to enhance fast-charging infrastructure, improve electricity distribution, and support local innovation.
21 Nov 2024 | 2668 Views | By Autocar Professional Bureau
Enhanced public and private investment to improve fast-charging infrastructure is a key need in driving wider EV adoption, EV industry leaders highlighted, at the India EV Fast Charging Summit organized by the India Energy Storage Alliance (IESA) in New Delhi.
With over 4 million electric vehicles (EVs) sold in ...
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Enhanced public and private investment to improve fast-charging infrastructure is a key need in driving wider EV adoption, EV industry leaders highlighted, at the India EV Fast Charging Summit organized by the India Energy Storage Alliance (IESA) in New Delhi.
With over 4 million electric vehicles (EVs) sold in India, the country's EV market is approaching a critical growth phase, supported by a robust ecosystem, favorable government policies, and rising consumer awareness. However, experts stressed that faster and more efficient charging solutions would address range anxiety and improve convenience for EV users.
IESA President Debi Prasad Dash highlighted the significance of the upcoming PM e-Drive scheme, which is expected to allocate Rs 2,000 crore for fast-charging infrastructure. “The PM e-Drive scheme offers double the incentives compared to FAME-II, with state-wise demand allocation based on vehicle density and local EV policies. This framework could significantly enhance charging infrastructure across India,” he noted.
The scheme will prioritize the installation of public EV charging stations (EVPCS), aiming to deploy 22,100 fast chargers for four-wheelers, 1,800 for buses, and 48,400 for two- and three-wheelers. Despite these plans, Dash acknowledged that the number of fast chargers remains insufficient for the rapidly growing EV market.
Vinayak Walimbe, Managing Director of CES India, emphasized the scale of investment required to meet India's EV charging needs. "Estimates in the U.S. suggest an investment of $20–50 billion. India will need similar levels of funding to build a robust charging ecosystem," he said.
Shiraz Khanna, CFO of Exicom, pointed out the importance of reliable electricity supply in expanding the EV market beyond urban centers. "Upgrading transformers and grids will ensure consistent power availability, enabling EV adoption even in rural areas," he explained.
Awadhesh Jha, Executive Director of GLIDA, proposed an alternative approach to the PM e-Drive allocation. He suggested channeling funds into upgrading the electricity infrastructure through distribution companies (DISCOMS). "If the government supports DISCOMS to create plug-and-play solutions for charge point operators, it could have a more significant impact than focusing solely on charger installation," he said.
Experts also advocated for measures to narrow the cost gap between EVs and conventional vehicles. Lowering custom duties, GST, and taxes on imported EV components while promoting local R&D in battery technology could boost domestic manufacturing, reduce costs, and create jobs.
With strategic investments and policy interventions, India can build a sustainable EV ecosystem that benefits both urban and rural users, fostering economic growth and environmental sustainability.