Over 4 million electric vehicles (EVs) sold in India, the nation is nearing a tipping point in adoption driven by support from an entire ecosystem, government policies, and rising consumer awareness. However, the industry says that there is an urgent need for huge investments to scale up the EV charging infrastructure to meet the growing demand for fast charging stations. Experts at the India EV Fast Charging Summit held by India Energy Storage Alliance in New Delhi said that the investment of $20-30 billion will be required to double the growth pace of the segment.
Debi Prasad Dash, President of IESA, said that the PM e-Drive scheme, which will be rolled out with incentives, is something the market awaits above FAME-II. The scheme will take a state-specific approach with respect to demand allocation, considering local EV policies and incentives. Additionally, there is progress of the MAHA program under ANRF wherein the focus is on research and innovation in charging infrastructure. The scheme, PM e-Drive, therefore, envisions allocation of a proposed amount of ₹2,000 crore for over 72,000 fast chargers to address range anxiety and mobility concerns for all categories of EV.
Despite these moves, there are apprehensions about the infancy stage of the charging infrastructure in India. CES India’s Managing Director, Vinayak Walimbe, estimated investments of between $20 and $50 billion to create a robust infrastructure that would be able to support India’s growing market in electric vehicles.
To meet the very ambitious target of 30% adoption by 2030, stakeholders are demanding the government to fill in the gap in the costs through reducing customs, GST, and taxes on parts imported from outside the country. They want local R&D and manufacture, which will make the technology more affordable, further promote innovation, and create jobs.
However, challenges persist. Awadhesh Jha, Executive Director of GLIDA, suggested that the current ₹2,000 crore allocation is insufficient for public charging infrastructure. He proposed redirecting funds to upgrade electricity distribution networks, enabling “plug and play” solutions for charge point operators. Shiraz Khanna, CFO of Exicom, echoed these concerns, stressing the need to improve grid reliability and transformer capacity to extend EV adoption to rural areas.
In conclusion, India will significantly benefit from the electric vehicle revolution if public-private joint ventures help overcome infrastructure bottlenecks, decrease costs, and ensure the efficient supply of electricity. Aggressive investment and innovation at the local level can create a strong ecosystem that can better drive adoption rates, boost economic development, and meet the country’s goal of reaching 30 percent EV penetration by 2030.