Electric vehicles with batteries (BEVs or EVs) are the latest revolution in the transportation sector, contributing to almost 16% of global emissions. It is environmentally friendly and costs less to operate and maintain. 1.05 million EVs will be sold in India by 2022, with an adoption rate of EVs of about 4.7%. However, range anxiety, brought on by immature battery technologies and a lack of charging infrastructures, is the main issue holding back the adoption of EVs. India had 2,700 charging stations by the end of 2022 and may need 20.5 lakh charging stations by 2030.
On Tuesday, the Ministry of Heavy Industries announced that three PSU oil marketing companies (OMC) had received a total of Rs 800 crore under the FAME India Scheme Phase II in order to build 7,432 public fast charging Electric Vehicles Charging stations across the nation. The funds were authorised under Phase II of the FAME Scheme.
Three OMCs, Indian Oil (IOCL), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL), have each received Rs 560 crore, or 70% of the total amount, from the ministry as the first installment for the installation and commissioning of upstream infrastructure and charging equipment of Electric Vehicles public charging stations at corresponding retail outlets across the nation.
The installation of Electric Vehicles Charging stations is anticipated to be finished by March 2024
“The addition of the new 7,432 public charging stations will be a significant push to EV charging ecosystem,” the release said, and added the charging capacity would be used for charging electric 2-wheelers, 4-wheelers, light commercial vehicles, and mini-buses.
The move, according to Minister of Heavy Industries Mahendra Nath Pandey, will strengthen India’s electric vehicle ecosystem and encourage more people to use cleaner forms of transportation. In order to achieve Prime Minister Narendra Modi’s Net Zero mission, he further stated that the government is committed to promoting environmentally friendly mobility options and lowering the nation’s carbon emissions. The minister added that the action will build a strong, publicly accessible charging infrastructure network in India.
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