EV MOTORS INDIA INITIATES ITS 1ST PUBLIC EV CHARGING OUTLET ‘PLUGNGO’ IN GURUGRAM
Published Date | 2019 January 8
EV Motor India seek to invest Rs 14 Billion over next 5 year in association with DLF, Delta Electronic India and ABB India to organize 6500 charging outlets across India will drive the Electric Vehicle infrastructure Market.India: EV Motors India launched its first EV charging station ‘PlugNgo’ in partnership with DLF, Delta Electronics India and ABB India. The association going to set up over 6500 charging outlets with an investment of USD 200 million over the next 5 years. These stations will be connected and networked to PlugNgo’s cloud-based integrated software platform. Over next 12 months, the company is expecting to set up over 20 outlets and service center in the Delhi-NCR region followed by expanding its reach to Bengaluru, Chandigarh, Jaipur, Ahmedabad, Kanpur, Kolkata, Mumbai, Pune, Hyderabad, Amritsar, Bhubaneshwar, Cochin, Indore, and Chennai. The Managing Director, Vinit Bansal, EV Motors India said, “For the nation to progress towards the vision of a large fleet of EVs across the country, a coordinated approach between real estate developers, vehicle OEMs (original equipment manufacturers), and charger manufacturers is necessary.” According to BlueWeave Consulting, EV Motors is a start-up where expertise in automotive and alternate energy combines their art with industry to deliver green solutions. They provide e-mobility solutions for large scale adoption of electric vehicles. Electric vehicles provide great potential to radically reduce local air pollution, greenhouse gas emissions, resulting climate change impacts, and oil use from the transport sector. The demand for electric vehicles and charging station is governed by an increase in demand for fuel-efficient, high-performance, and low-emission vehicles. In addition, the trend of reduction in vehicular emission due to stringent rules & regulations in several countries and growth of public charging infrastructure in India. There is a wide array of policy implemented by government to support the introduction of EVs and charging infrastructure. Successful programs have evidently engaged many stakeholders through integration of driver feedback on charger deployment, distribution of funding to local governments, creation of public-private partnerships, implementation of smart charging systems, and consultation with electric utilities. According to BlueWeave consulting’s recent published report, Titled-“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 an increased 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, such as tax credits, on the installation of publicly accessible stations are expected to boost the market. According to the recently published report by BlueWeave Consulting on “Global Electric Vehicle Charging Station Market, By Product Type, By Installation Type, By Suppliers Type, By Region- Industry Analysis, Size, Share, Growth, Trends & forecast by 2018-2025,” the global electric vehicle (EV) charging station market is expected to grow over a CAGR of 29% during 2018-2025 in terms of value. Government supporting and introducing new initiatives to drive the growth of Electric Vehicle and Eelectric 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 other 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.