To overcome the range anxiety issues, state-run EESL plans to get Fast-Charging E-Vehicle stations by the end of March in Delhi, drives the new growth opportunities in electric vehicle and infrastructure market.
India: The government is setting up the infrastructure for charging electric vehicles (EVs) in some busy areas of the Capital where cars can be recharged for as low as Rs 30 for a 15-minute top-up. State-run EESL plans to set up 84 such facilities by March-end, namely Khan Market and Yashwant Place, among few other locations in New Delhi Municipal Council (NDMC) area, which includes Lutyens’ Delhi. Users will be able to charge with a mobile app, ElectriFi, and even book a time slot.
In the initial phase, charging stations will be equipped with Bharat DC-001, the standard compatible with EV models of Tata Motors and Mahindra & Mahindra, while there will be space and interconnection facility available to accommodate European CCS and Japan’s CHAdeMO in each station. EESL is using telematics data collected to improve the efficiency of EV deployment.
Saurabh Kumar, Managing Director, Energy Efficiency Services (EESL) said “We will set up fast-charging stations in public parking spaces and high-visibility areas. When people see chargers at various locations, it takes care of the range anxiety issues.” Range-anxiety refers to the concern triggered by the unavailability of public charging stations that also questions on EV feasibility. A 15-minutes charge will allow a range of 22 km while it will take 90 minutes to fully charge a vehicle. As of now, we only need the 15kW chargers. In the second half of the year, when several foreign automakers are expected to roll out their EVs in India, we can equip these stations with the remaining standards. The 15kW chargers will also be compatible with electric two- and three-wheelers.
According to BlueWeave Consulting, The move to electrify vehicles has gathered momentum the world over. Electric vehicles (EVs) are the inevitable future of the automotive industry. Understanding the potential of EVs in addressing India’s aims for an energy-ready and environmentally sustainable future, the Indian government launched the National Electric Mobility Mission Plan (NEMMP) in 2013 with a target to bring 60 to 70 lakh EVs to Indian roads by 2020 and is committed to achieve 30% e-mobility by 2030. The electric vehicle and infrastructure market in India is anticipated to create lucrative opportunities for electric vehicle manufacturers as well as for vehicle component manufacturers in the near future.
According to the recently published report by BlueWeave Consulting on, “Global Electric Vehicle (EV) Charging Station Market by Product Type (AC EV charging station, & DC EV charging station), by AC EV Charging Station (Level 1 & Level 2), by DC EV Charging Station (CHAdeMO, Combiner charging station & Others), by Installation Type (Residential, & Commercial), by Supplier Type ( Private charging Station & OE charging station) by Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Size and Forecast, 2018-2025” the global electric vehicle (EV) charging station market is expected to grow over a CAGR over 29% during 2018-2025 in terms of value. Government supporting and introducing new initiatives to drive the growth of Electric Vehicle and Electric Vehicle charging station industry is driving the growth of the market. In addition, the price of fuel is constantly increasing which is urging the people to look for better and another energy efficient alternative. Oil price will increase over the forecast period which will accelerate the market demand for electric vehicles and EVs charging stations. These factors are constantly accelerating the growth of the electric vehicle (EV) charging station market globally.
According to BlueWeave consulting’s Upcoming report on “India Electric Vehicle (EV) Charging Station Market by Product Type (AC EV charging station, & DC EV charging station), by AC EV Charging Station (Level 1 & Level 2), by DC EV Charging Station (CHAdeMO, Combiner charging station & Others), by Installation Type (Residential, & Commercial), by Supplier Type ( Private charging Station & OE charging station) by Region (North, West, East & South); Size and Forecast, 2018-2025,” the growth is attributed to gained momentum in recent years mainly due to deployment of charging stations at public places such as shopping malls, commercial buildings, airports, and restaurants. The convenience of being able to use an EV charger while shopping or during office hours is expected to boost the adoption of electric vehicles. Furthermore, government offerings, with respect to tax credits, on the installation of publicly accessible stations are expected to stimulate the growth.
According to the recently published report by BlueWeave Consulting on “Global Electric Commercial Vehicles Market by Propulsion type (BEV, HEV, PHEV, FCEV), by Vehicle type (Bus, Truck, Van, Others), by Component (Motor, Battery, Others) – Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014-2024,” the Global Electric Commercial Vehicles market is projected to grow at a CAGR over 13.0% during the forecast period in terms of value. The market is expected to reach over USD149, 316 Mn by 2024, supported by government subsidies and tax rebates for commercial electric vehicles. Need for fuel-efficient and emission-free vehicles and the increasing demand for an electric commercial vehicle such as an electric truck in the logistics industry to minimize the additional liability of fuel expenses. Innovations in EV battery capacity, which will enable electric commercial vehicle to carry heavy loads over longer range, can create new revenue generation opportunities.