India needs about 4,00,000 charging stations to complete the requirement for two million Electric Vehicles (EV) that could potentially work on its roads by 2026, as per a report on Saturday.
The Grant Thornton Bharat-Ficci report said for India to meet its vision of 100 percent EVs by 2030, factors such as encouraging government support, reducing cost of technology, and distressing pollution levels would be key to accelerate this transition.
According to EV industry body - Society of Manufacturers of Electric Vehicles - there are 1,800 charging stations in India as of March 2021 for approximately 16,200 electric cars, including the fleet sector.
"Overall, the EV infrastructure is tightly coupled
with the EV and charging station characteristics, battery technologies, and electricity markets," the report stated.
"More than half of the stakeholders, as part of a survey in the report, have also recommended the involvement of discoms in Electric Vehicle Supply Equipment (EVSE) deployment and classification of EV charging infrastructure as corporate social responsibility."
In addition, the survey indicated design simplifications, partnership during the transition, and optimisation of urban mobility as actual cost reduction levers for bringing down EV costs in India.
"Global manufacturers have spent millions to improve the availability and efficacy of EV chargers, and as a result the fastest ones today take no more than 15 minutes to recharge a vehicle."
"The global sales of EVs in 2020 increased by 39 percent y-o-y to 3.1 million units, whereas the total passenger car market declined 14 percent."
Besides the report stated the impact of the pandemic on the emergence of a novel consumer who is eager to be healthy, breathe clean air and shape a better, more resilient world for the next generation.
"The year 2020 has presented a great responsibility and opportunity to fast track the development of electrification and electric vehicles (EV) by utilising the strengths available globally through a collaborative and integrated effort," stated Saket Mehra, Partner, Grant Thornton.