The number of public charging stations for electric cars (BEVs) in India has grown significantly by March this year.
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The number of public charging stations for electric cars (BEVs) in India has grown significantly. In February 2022, there were 1,800 stations. By March this year, the number had increased nearly nine times to 16,347, according to a report released by the global advisory firm Forvis Mazars in India on Thursday.
The report highlighted the unprecedented growth of electric vehicle infrastructure in the country. It mentioned that this expansion is important as it meets the growing demand for electric vehicles, which is driven by increased environmental awareness, rising fuel prices, and government incentives. This sets the stage for a more sustainable transportation future.
“By 2030, electric vehicles are projected to make up almost one-third of India’s passenger vehicle market, highlighting the significant infrastructure requirements”, said Rohit Chaturvedi, Partner, Transport and Logistics sector, Forvis Mazars in India.
Electric vehicle (EV) sales in India increased threefold in the previous fiscal year, primarily due to significant growth in the two-wheeler (2W) and three-wheeler (3W) segments.
“Factors such as lower total cost of ownership, ease of use, sustainable choices, a growing supplier network, product customisation, and government incentives like FAME-II are driving EV adoption and charging infrastructure growth”, the report mentioned.
By 2030, India is anticipated to have approximately 50 million electric vehicles (EVs) in operation, driving a market worth of $48.6 billion. In order to achieve a ratio of 1-40 EVs to charging infrastructure, it will be necessary for India to annually install over 400,000 chargers, resulting in a cumulative total of 1.32 million chargers by 2030. The government’s Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme offers incentives to promote the adoption of EVs and the expansion of charging infrastructure.
The Ministry of Heavy Industries recently approved 2,877 EV charging stations across multiple states, as well as 1,576 stations along 16 highways and nine expressways. Chaturvedi emphasized the need for India to enhance its public charging infrastructure to accommodate the increasing demand and alleviate range anxiety. With projections suggesting that almost one-third of India’s passenger vehicle market will shift to electric vehicles by 2030, there is a critical emphasis on expanding public charging infrastructure, as highlighted in the report by IANS.
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The rapid growth of electric vehicle infrastructure and the increasing adoption of electric vehicles in India indicate a promising shift towards a more sustainable and environmentally conscious transportation future. The proactive approach of the government, coupled with growing consumer awareness and support schemes, is paving the way for a significant transformation in the country’s vehicle market. This substantial progress in charging infrastructure and electric vehicle adoption sets the stage for a cleaner and more energy-efficient transportation ecosystem in India.ELCTRIK Speaks
