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India likely to get 48,000 more EV chargers in three to four years: Icra

India currently has less than 2,000 public charging stations, concentrated in urban areas of a few states.

Via : Automatic table HT
Update on:
April 6, 2022, 05:59 ONLY

Photo file of an electric vehicle being charged is used for representation purposes only (HT_PRINT)
Photo file of an electric vehicle being charged is used for representation purposes only (HT_PRINT)

India is likely to add around 48,000 electric vehicle chargers within the next three to four years through an investment of around 48,000. A report from domestic credit rating agency Icra said it was 14,000 crore amid healthy expectations of electric vehicle (EV) penetration. Currently, there are less than 2,000 public toll stations nationwide, concentrated in urban areas of a few states.

The report says EV penetration is expected to increase in the two- and three-wheeler as well as bus segments, and that expansion of the charging infrastructure currently in its infancy will play a role. important in the adoption of electric vehicles.

Electric two-wheeler penetration is expected to account for around 13-15% of new vehicle sales by FY25, while the electric tricycle and electric bus segments are expected to at more than 30% and 8-10% respectively in fiscal year 25.

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The report notes that while India is still a laggard in penetrating electric vehicle charging infrastructure, there has been policy push to increase the number of electric vehicle charging stations in the country. For this purpose, the central government has allocated 1,300 crore in the Faster Hybrid and Electric Vehicle (FAME) Adoption and Production program. “To capitalize on the potential opportunity in the space, a number of PSUs and private companies have also announced plans to get involved in toll infrastructure,” said Shamsher Dewan, Vice President and Team Leader, ICRA .

He added that battery swapping is another emerging alternative to electric vehicles and a significant change for the development of EV charging infrastructure, especially for commercial applications. “This is also in its infancy right now in India,” added Dewan, “on the whole, the policies aim to actively promote more electric vehicle charging stations, with a large portion of the population expected will have access to charging infrastructure in the next 3-5 years. years.”

(with input from PTI)

Date of first publication: April 6, 2022, 05:57 PM IST

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