Electric Vehicle Charging station market is estimated to surpass $4Billion globally. India is one of the emerging markets with very few local and international players in the sector. This presents India with a huge potential to rise in this market. Also, the best part is, any individual can set up an EV charging station in India, provided the station meets the technical parameters laid down by Govt.
Inadequate charging facilities has always been the most discouraging factor behind automobile company’s reluctancy towards electric cars. Carefully considering the overall scenario in India, the Government of India put-forth an ambitious leap of pushing the 150 charging stations count to one station every three kilometers in the cities in India. The target includes setting up a charging station every 25 km on both sides of highways.
It is highly estimated that the market for charging stations will surpass 4 Billion dollars in the coming years, across the globe. Automotive giants such as Mahindra and Mahindra, Tata Motors, etc., and Cab-service providers like Ola and Uber are few of the native brands that are keen to set up electric vehicle charging stations in India. Adding to the list are many International brands such as ABB, Fortum, and few Dutch firms, that eventually signifies India as one of the emerging markets in the sector.
This presents India with a huge potential to rise in this market. In order to smoothen the establishment process, the Government of India has de-licensed public charging stations ventures for electric vehicles enabling the desiring individuals to extend such facilities but at a regulated tariff. What does this mean? It means any individual can set up an EV charging station in India, provided the station meets the technical parameters laid down by Govt.
To set up an EV charging station, one may need to take into consideration the following points in order to establish a station with an appropriate facility
- Type of vehicles to be charged in the charging station. For example, 2-wheelers, 3-wheelers, etc.
- Type of charging unit needed? For example, AC or DC
- Location of the charging station such as whether it will on a Highway, local Road, or near Petrol Pump.
- Investment needed? It usually ranges from a minimum of 1 Lakhs to 40 Lakhs INR.
- Availability of sufficient Electricity supply to power up the charging station.
- Maintenance costs associated with the charging station.
- Understanding government regulations. Local and National.
Once all the above-mentioned factors are evaluated, one can get started by approaching the right vendor. There are a couple of online marketplaces one can go for buying their own EV charging station such as Alibaba.com, Amazon.com, IndiaMART, etc.
Although setting up a charging station and petrol pump in India goes nearly for the same cost, if you are still confused between the two, it is always better to go ahead with the major factor related to the charging station which is the location of the charging station.
In my opinion, if your location in on a National highway or near any Urban locality, and you have plans to commence the project in the next 2-3 months, going for the EV charging station will be the most suitable choice.