Electric vehicle (EV) penetration in India is still in its nascent stage. However, a critical facilitator of EV adoption is the availability of charging infrastructure. By 2030, the country is forecasted to be home to 102 million EVs, with 2.9 million public charging stations needed to accommodate the growing EV adoption. This increasing number of public charging stations is expected to be driven by a range of players, such as pure-play charge point operators, oil marketing companies, utilities and EV fleet operators.
The development of EV charging infrastructure is further incentivised by the support provided through government reforms along with continual engagement by the private sector, creating new economic opportunities along the value chains for EV charging.
To conclude, India’s charging infrastructure market has embarked on an explosive growth path. Operators with a strong charging infrastructure network, facilitated through multiple partnerships, are expected to be better placed to make effective use of these opportunities.
