The industry group IESA estimates that $20–30 billion in investment is required to quadruple the growth pace of India’s EV charging infrastructure. The PM E-DRIVE program seeks to hasten the development of EV charging infrastructure and EV adoption. According to Debi Prasad Dash, president of the India Energy Storage Alliance (IESA), it is a very specialized market that has just recently begun to gain traction in the nation.
According to Dash, who shared his estimates, India’s EV charging infrastructure market is currently expanding at a rate of 25–30%.
Infrastructure for EV Charging
During the ‘IESA India EV Fast Charging Summit’ in the nation’s capital, he stated that USD 20-30 billion investments will be needed to quadruple this increase. The India EV Fast Charging Summit was held today in New Delhi by the industry group IESA (India Energy Storage Alliance) to shorten charging times and improve mobility and waiting times for EV customers. On the sidelines of the summit, the industry group IESA stated that India needs to invest USD 20–30 billion in EV charging infrastructure in order to quadruple the growth rate of the market.
Industry experts also demanded at the summit that more public and private sector money be allocated to India’s rapidly expanding fast-charging ecosystem in order to speed up the adoption of EVs. “Everyone is anticipating the launch of the PM e-drive scheme, which offers twice the charging infrastructure incentive compared to the FAME-II scheme,” says Mr. Debi Prasad Dash, president of IESA. Before releasing the entire plan, the ministry is taking into account a number of factors, such as the density of automobiles in various states and cities and their attempt to allocate demand state-by-state this time.
Additionally, the ministry has attempted to think about if any states have their own EV rules and incentives for charging stations and other facilities, as well as how they can distribute both state and federal government programs. I’m hoping the 2,000 crore framework will be released soon.
The PM e Drive program encourages the installation of public EV charging stations (EVPCS) in an effort to alleviate range anxiety. Installing 22,100 e-4W fast chargers, 1,800 e-bus fast chargers, and 48,400 e-2W and e-3W fast charges will cost Rs 2,000 crore. Fast charging stations, which are still in their infancy in India, are a worrying matter as the number of EVs rises.
Mr. Vinayak Walimbe, CES India’s managing director, said, “I was interested in examining what kinds of investments will result in a charging infrastructure for EVs. We’ll see how much that comes to in India, but these are US figures, so it’s about 20 billion USD. India Energy Storage Alliance (IESA) is a prominent industry association dedicated to the advancement of e-mobility, green hydrogen, and advanced energy storage technologies in India. The goal of IESA, which was established in 2012 by Customized Energy Solutions (CES), is to establish India as a global center for the development, production, and uptake of cutting-edge energy storage, e-mobility, and green hydrogen technologies.
