NEWS – India Needs 3.9 Million EV Charging Stations by 2030 according to recent report by GameChanger Law Advisors and venture capital firm Speciale Invest.

HIGHLIGHTS

Key Takeaways:

• Urgent Need for Expansion: India requires a significant increase in EV charging infrastructure to meet the growing demand for electric vehicles.
• Current Scenario: The country currently has one public charger for every 135 EVs, far below the global average.
• Investment Growth: Over $450 million has been invested in Indian EV charging start-ups in recent years.
• Innovative Business Models: The sector is witnessing a rise in innovative models like pay-per-use charging and battery-swapping.
• Government Initiatives: Government schemes like FAME II and PLI, along with state-level policies, are driving investment in the EV charging sector.

Data Points:

• Target: 3.9 million public and semi-public charging stations by 2030 to support 80 million EVs.
• Current Status: Approximately 12,146 public charging stations operational in India as of February 2024.
• State-wise Distribution: Maharashtra leads with the highest number of charging stations, followed by Karnataka.

Challenges and Opportunities:

• Addressing the gap: Bridging the gap between the current number of charging stations and the projected demand will be crucial.
• Expanding charging infrastructure: Focus on expanding charging infrastructure in both urban and rural areas.
• Technological advancements: Continued innovation in charging technologies, such as faster charging speeds and battery swapping solutions.
• Policy support: Continued government support through favorable policies and incentives.
• Private sector investment: Attracting further private investment in the EV charging sector.