India Needs 4 Lakh Charging Stations for 20 Lakh EVs by 2026

According to a new report by Grant Thornton Bharat-Ficci, India needs around four lakh charging stations for 20 lakh electric vehicles (EVs) by the year 2026. The report that came on Sunday said that to achieve its target of 100 percent electric mobility by 2030, India needs to focus on key points, including increasing government support, decreasing the cost of technology, and distressing pollution levels to accelerate this transition.

The report shows some numbers as per the EV industry body, Society of Manufacturers of Electric Vehicles, there are 1,800 charging stations in India as of March 2021 for approximately 16,200 electric cars, including the fleet segment.

The report suggests that the EV infrastructure is tightly coupled with the EV and charging station characteristics, battery technologies, and electricity markets, overall. Also, more than half of the stakeholders, as part of a survey in the report, have recommended the involvement of discoms in Electric Vehicle Supply Equipment (EVSE) deployment and classification of EV charging infrastructure as corporate social responsibility.

Furthermore, the survey in the report proposed design simplifications, partnership during the transition, and optimization of urban mobility as effective cost reduction levers for bringing down EV costs in India.

Talking about EV manufacturing at a global level, the report says that the global manufacturers have spent millions to improve the availability and efficacy of EV chargers, and as a result the fastest ones today take no more than 15 minutes to recharge a vehicle. Also, the global sales of EVs in 2020 increased by 39 percent year on year to 3.1 million units, whereas the total passenger car market dipped by 14 percent.

Additionally, in another report entitled “The road ahead for e-mobility” by Grant Thornton Bharat-Ficci, the author says that “When the COVID-19 pandemic hit the economy, it triggered a decrease in consumer purchasing power and disrupted supply chains, leading to an overall economic slowdown, which wreaked havoc in the industry. While the diesel and petrol segments were the worst hit, one sector showed surprising resilience to the pandemic, which was EVs.”

The number of EVs on the road in India has also started to increase and this has necessitated attention from all stakeholders – original equipment manufacturers, suppliers, dealers, and utility players. The shift is incomplete without the deployment of futuristic technologies that would deliver disruptive breakthroughs towards an all-electric future, the report said.

After striving to turn the pandemic-induced crisis into an opportunity, the Indian government has pushed for massive penetration of EVs towards green fuel and electricity. Moreover, to align the sustainable development goals (SDGs), aggressive targets are set for rolling out EVs and new commitments are being announced regularly, EVs are finally showing implementation in India to a marked extent.

“One of the key enablers for the rapid uptake of EVs is the development of widespread charging infrastructure. Overall, there is a need for the industry stakeholder to come together and lay the groundwork to increase the adoption of technology and establish a smooth, effective infrastructure for a truly smart and e-mobilized country in the future,” said Saket Mehra, Partner, Automotive Sector leader, Grant Thornton Bharat