Govt Subsidies and incentives for EV Public charging Station
During the Lockdown period the total auto the total water industry suffered be it for the Maruti Suzuki, Renault ,Bajaj or any other company they have encountered with loss. But one interesting and inspiring fact that has happened to our Indian market is that the electric vehicle sector that is new it's grown during this period specially two wheeler and three wheeler. We have seen some potential in terms of the four wheeler industry also now if you see this increasing number of cells in terms of electric vehicle Sabhi asli EV charging infrastructure is having great potential at Indian as well as all emerging EV markets across the globe.
As per industry right now we have 4000 plus charging stations which is only 1% of 400000 charging stations. That means we still need a huge supply in this market. So we can see that there is clearly a demand and supply gap. By 2030 with expected penetration 2.9 million charging stations are required for India where exponential growth is expected from 2025 onwards so we need multiple entrepreneurs in this field especially in the charging station charging station sector. Overall EV charging is going to be a very high opportunity segment and we are very proud that we are trying our best to make this transition happen in India. Now let's see some government schemes and initiatives for promoting electric vehicle charging infrastructure business opportunity in India.
As every industry grows and demand Rises private charging infrastructure operators will come up to solve the issues of a more mature industry. Should the Indian government also come up with their Fame 2 scheme to promote electric vehicle charging station business opportunity and recently launched the express of interest to promote electric vehicles charging infrastructure. Indus Fame 2 scheme Government of India giving private players a subsidy of 50% to hundred percent of total charging station cost for the first 5000 public charging stations set up. The private players can easily use this funding and this incentive to set up their charging stations like in Apartments, commercial office properties, malls , hospitals , government offices and also near to the highways. The Centre will give a boost to manufacturers to Innovative and vehicle segment specific charging solutions.
Easy charging is certainly not the one-size-fits-all IC engine feeling model example two and three wheelers will not incorporate with type 2 or CCS two inlets which are becoming popular for only the four wheelers due to this fact due to the share volume of the unit inside the vehicle and significantly cost impact. Minister of heavy industries and public Enterprises Prakash javadekar has been quoted as saying that in future at least one charging station will be available in most of the selected cities in a 4 km X 4 km grid. So in India several startups like voltic, EvQ points Magenta power and also some premium companies like Delta electronics Fortrum , Panasonic they also started giving dealership or distributorship opportunities for Indian entrepreneurs .For a new startup those who wants to start their business it's the best time to start with charging station Domain because after 2025 we will see exponential growth of electric vehicle sector. Simultaneously the charging station will also grow so for this huge demand we need a lot of entrepreneurs so the big companies are also going to this market and also if you are entrepreneur so you can also target this market. In Indian market there are several models of chargers available like Bharti AC001, Bharat DC 001, type 2 AC charger ,CCS ,Chademo ,these charges are available in Indian market so every automaker in electric vehicles they are referring mainly the type 2 AC charger and for fast charging there selecting the CCS or the Chademo.
So if you see the market the first market will be the AC slow charger market then the market will be for the DC fast charging 80% market will be grabbed by AC slow charger then 20% market will be carried by the DC fast charger. So there is a huge opportunity in terms of AC slow charges business for small entrepreneurs and for DC fast charger that mainly e supported by the government.
In conclusion we can clearly say that in the coming years we will see a Surge of electric vehicle charging stations setup so every company and every other individual is preparing for this market so it's the best time to start your business or invest in the sector.