India will need to invest Rs 16,000 crore in capital projects by 2030 to meet the public’s demand for EV charging stations and to reach the target of more than 30% electrification, according to a survey conducted by the industry association FICCI.
According to the published “FICCI EV Public Charging Infrastructure Roadmap 2030,” India needs to work toward higher charging station usage in order to achieve scalability and profitability.
Additionally, the paper suggests prioritizing the top 40 cities for the expansion of public charging infrastructure. According to the report, those top cities should see more EV penetration in the next three to five years due to the current rate of EV adoption and supportive state regulations.
If the required supply-side and demand-side enablers are in place, India can achieve its target of 30–40% electrification by 2030, according to the FICCI analysis.
The adoption of EVs is influenced by a number of factors, including supply/consumer pull, laws, battery developments, economic concerns, and the state of charging infrastructure.
Several regulatory incentive programs are available in India to encourage the expansion of EVs.
When the FAME II scheme concluded in 2023–2024, the government introduced the PM E-DRIVE plan, which offers an incentive of Rs 5,000/kWh for E2W and E3W up to 15% of the ex-factory cost and Rs 10,000/kWh for E-buses up to 20% of the ex-factory cost.
Additionally, some states have created their own incentives, which can include anything from preferred electricity prices, waived fees, tolls, and taxes to low-interest loans and infrastructural subsidies.
In order to comply with taxes across the EV value chain, the research also suggested standardizing GST rates for EV charging services from 18% to 5%. (ANI)
