India Require to Have 4 Lakh Charging Stations By 2026: Grant Thornton-Ficci Report

In a report published by Grant Thornton Bharat and Ficci it is found that India needs about 400,000 charging stations to meet the requirement for two million Electric Vehicles (EV) that could potentially ply on its roads by 2026.

Grant Thornton Bharat and Ficci report said for India to reach its vision of 100 per cent EVs by 2030, factors such as increasing government support, decreasing cost of technology, and distressing pollution levels, would be key to accelerate this transition.

As per 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 segment.

"Overall, the EV infrastructure is tightly coupled with the EV and charging station characteristics, battery technologies, and electricity markets," the report said.

"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."

Besides, the survey suggested design simplifications, partnership during the transition, and optimisation of urban mobility as effective 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."

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"The global sales of EVs in 2020 increased by 39 per cent y-o-y to 3.1 million units, whereas the total passenger car market declined 14 per cent."

In addition, the report mentioned about the impact of the pandemic on emergence of a new consumer who is eager to be healthy, breathe clean air and build 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," said Saket Mehra, Partner, Grant Thornton.