Market Reports

EV Infrastructure in India

1	Overview: India’s EV Infrastructure
2	Quick Facts: EV Infrastructure of India
3	Operational Public EV Charging Stations Overview
4	Overview: Public Charging Stations for EVs
5	Megatrends Impacting India’s EV Infrastructure
6	Prominent Investment in India’s EV Infrastructure

Overview: India’s EV Infrastructure

Drivers

Government Policies and Incentives

FAME Schemes: Faster adoption and manufacturing of hybrid and electric vehicles (FAME) schemes provide financial incentives and subsidies for EV purchases andinfrastructure development.
National Electric Mobility Mission Plan (NEMMP): Aims to promote electric mobility and improve charging infrastructure.
PM E-Drive Scheme: The PM E-DRIVE scheme aims to promote EVs to reduce the environmental impact of transportation and improve air quality. The scheme promotes installation of electric vehicle public charging stations (EVPCS). The scheme proposes the installation of 22,100 fast chargers for e-4Ws, 1800 fast chargers for e-buses, and 48,400 fast chargers for e-2W/3Ws. The outlay for EV PCS will be INR 2,000 crore.

Rising Fuel Prices:

Continuously increasing fuel prices make EVs a more attractive option for consumers because they are cheaper to operate.

Environmental Concerns:

Increasing awareness and regulations aimed at reducing air pollution drive the demand for cleaner transportation options, including EVs.

Challenges

Infrastructure Development

Limited and uneven distribution of charging stations can deter potential EV buyers
Scaling up charging infrastructure requires upgrades to the power grid and supply systems.

High Initial Costs:

Although EV prices are decreasing, they still tend to be higher than traditional vehicles, which can be a barrier to widespread adoption.
Significant capital is needed to establish comprehensive charging networks

Consumer Mindset Still Toward Conventional Vehicles

As of FY 2023-24, India’s total vehicle sales (including two-wheelers, cars, and commercial vehicles) exceeded 24 million units.
Of these, ICE vehicles accounted for approximately 93.5% of total sales, while EV sales stood at around 6.5% of the overall market
The initial purchase price of EVs can be higher than that of ICE vehicles, despite lower long-term operational costs. Many consumers prioritize upfront affordability over potential savings in fuel and maintenance.
Many consumers still perceive ICE vehicles as superior in terms of performance, particularly regarding acceleration and long-distance travel. Misconceptions about EV capabilities can deter potential buyers.

Opportunities

Expansion of Charging Infrastructure

Opportunities for investment in both public charging stations and private charging solutions for homes and businesses.
Development of mobile charging units, ultra-fast charging stations, and battery-swapping technologies.
Increased investment from both domestic and international companies in EV manufacturing and charging infrastructure presents significant growth potential.

Collaborations and Partnerships

Collaborations between government bodies, private companies, and local governments to develop and deploy EV infrastructure.
Government initiatives to electrify public transport and government vehicles can significantly boost EV infrastructure development.

Technological Innovation

Development of smart grid technologies, integration with renewable energy sources, and advanced payment systems for charging stations.
Innovations in battery technology, such as solid-state batteries, promise longer ranges and faster charging times, enhancing the appeal of EVs.

Quick Facts: EV Infrastructure of India

The number of public charging stations surged from 10,261 in September 2023 to 16,347 by March 2024
The number of public charging stations has surged, demonstrating a remarkable 640% increase over the past two years
The number of entities responsible for deploying these chargers increased from 52 to 81 during this period
India experienced a substantial rise in EV sales in 2023, with the total volume reaching 1.6 million units (~+50% YoY)
Two-wheelers and three-wheelers saw YoY growth of 35% and 64% from 2022, respectively.
The car/SUV segment witnessed a notable surge of 117%.
By 2030, the Indian government has set ambitious targets for EV sales penetration: 30% for private cars, 70% for commercial vehicles, and 80% for two- and three -wheelers
Currently, India has 1 charging station for every 135 EVs
To come down this ratio of charging stations to EVs government implements tax breaks for companies investing in charging infrastructure.
India’s EV market is expected to grow at a CAGR of 44% from 2021 to 2026
About 22% of India’s charging infrastructure consists of fast chargers
The Indian government plans to invest INR 350 billion in EV infrastructure by 2025
States like Delhi, Maharashtra, and Tamil Nadu introduced their own EV policies to boost adoption
The government promotes battery swapping stations, with plans to establish 1,000 such stations by 2025
As of 2023, approximately 10% of India’s public buses are electric
Over 60% of India’s EV charging infrastructure is expected to integrate renewable energy sources by 2030
The average cost of charging an EV in India is around INR 8-10 per kwh
By 2025, the government plans to roll out 100,000 EV charging stations across the country
India is collaborating with countries like Japan and the UK for EV technology transfer and infrastructure developments

Operational Public EV Charging Stations Overview

As per the information received from NITI Aayog, charging infrastructure requirements depend upon the composition of electric vehicles (EVs), running patterns, terrain & geography, urbanization patterns, and the technology of EVs and charging equipment.
Since all these factors are still evolving, there is no global consensus on some charging points required for a certain number of EVs.
The requirement is considered dynamic and in the wide range of 1 charging point per 20 EVs to 1 charging point per 150 EVs, depending upon the aforementioned factors.

Overview: Public Charging Stations for EVs

The number of public EV charging stations in India has been increasing significantly, with a compound annual growth rate (CAGR) of around 25-30% over recent years.
Leading companies and startups in the EV sector have invested billions in setting up charging infrastructure. For example, major players like Tata Power, BPCL, and others are expanding their networks rapidly.
Indian government has allocated significant funds through schemes like FAME II to support the deployment of charging stations, including grants and subsidies.
Around 70% of public charging stations are in urban areas, reflecting higher demand in metropolitan regions.
Efforts are underway to increase coverage in rural and semi-urban areas, with targeted expansion plans to add thousands of new stations in these regions by 2025.
New public charging stations are increasingly incorporating smart technology, including real-time monitoring, dynamic pricing, and integration with renewable energy sources.
Many new installations focus on fast chargers (DC fast chargers), which significantly reduce charging time compared to standard AC chargers.
Besides traditional energy companies, new entrants such as startups and tech companies are entering the market, contributing to rapid network expansion.
Some states, such as Maharashtra and Delhi, have a higher density of charging stations compared to others, reflecting regional policy support and higher EV adoption rates.

Megatrends Impacting India’s EV Infrastructure

Technological Advancements

Battery Technology Evolution: Significant improvements in battery life, efficiency, and charging speed are making EVs more practical and affordable
Smart Charging Solutions: Development of advanced smart grid technologies and IoT integration to optimize energy use and enhance user convenience
Wireless and Ultra-Fast Charging: Emergence of wireless charging systems and ultra-fast charging solutions to reduce charging times and improve accessibility

Government Policies and Support

Incentive Programs: expansion of financial incentives and subsidies under schemes like FAME India and various state policies to stimulate EV adoption.
Regulatory Frameworks: Implementation of stricter emissions regulations and standards driving the transition towards electric mobility.
Infrastructure Investments: Increased public and private investment in developing and expanding EV charging networks and supporting infrastructure.

Consumer Trends and Preferences

Rising Environmental Awareness: Growing concern about climate change and pollution is driving demand for cleaner, sustainable transportation options.
Shift Towards Urban Mobility: Increasing preference for electric two-wheelers and compact EVs in urban areas due to convenience and cost efficiency.
Demand for Convenience: Heightened consumer expectation for easy access to charging infrastructure and faster charging solutions.

Innovation in Energy Solutions

Renewable Energy Integration: Growing integration of solar and wind energy sources with EV charging stations to enhance sustainability and reduce grid dependency.
Energy Storage Solutions: Development of advanced energy storage systems to support charging infrastructure and manage energy demand effectively.
Decentralized Energy Systems: Rise in decentralized energy solutions like microgrids and community charging hubs to improve accessibility and reliability.

Prominent Investments in India’s EV Infrastructure

In July 2024, Blueweez, a major participant in last-mile deliveries, and Static, India’s leading EV charging network, established a strategic partnership. This alliance has the potential to impact India’s electric vehicle market and revolutionize first- and mid-mile delivery options. Blueweez and Statiq work together to set up charging infrastructure at important client locations. Currently, Static has over 7,000 chargers in 65 cities. By 2025, the company wants to have 20,000 chargers in this network.
In May 2024, MG Motor India teamed up with state-owned oil retailer Hindustan Petroleum Corporation Ltd. (HPCL) to establish public charging stations across India. To construct 50kW/60kW DC fast chargers throughout India’s major corridors, MG and HPCL will work together. By December 2024, HPCL wants to have 5,000 electric vehicle charging stations installed. They will also be in charge of monitoring charger usage and strategically growing the network among their 22,000+ fuel stations in India.
In April 2024, MG Motor India and Adani Total Energies E-Mobility Limited (ATEL) signed a MoU to strengthen the EV charging infrastructure in India. The collaboration to develop charging solutions for EV and value-added services to MG’s EV customers nationwide will underpin India’s rapidly evolving EV ecosystem by helping build a robust and efficient charging infrastructure. In accordance with the Memorandum of Understanding, ATEL would strengthen the charging network and improve customer accessibility by installing CC2 60 kW DC chargers at future MG dealerships. Additionally, the alliance will offer a complete solution that includes infrastructure for charging supply, installation, commissioning, operations, and maintenance.
In April 2024, Shell India Markets Private Limited (SIMPL) and Tata Passenger Electric Mobility Ltd. (TPEM), known for pioneering India’s electric vehicle (EV) revolution, signed a Memorandum of Understanding (MoU) to work together to build public charging stations throughout the country. The partnership will install chargers at sites where Tata EV customers commonly visit by utilizing Shell’s extensive fuel station network and TPEM’s knowledge from over 1.4 lakh Tata EVs on Indian roads. Additionally, both companies will work towards delivering superior charging experiences.
In March 2024, Hindustan Petroleum Corporation Ltd. (HPCL) and Tata Passenger Electric Mobility Ltd. (TPEM) signed a MoU to work together to construct public charging stations throughout India. Through this partnership, chargers will be installed in places that Tata EV users commonly visit. HPCL will also collect data on charger usage to enhance the customer experience. This partnership between TPEM and HPCL intends to investigate synergies between the two firms to encourage more people to use electric vehicles in India, with the ultimate goal of improving the experience of EV owners nationwide. Additionally, the two businesses are investigating the possibility of launching an easy payment system with a co-branded RFID card that will simplify the billing process.
In Jan 2023, Citroen India announced a strategic partnership with Jio-bp, a fuels and mobility joint venture between Reliance Industries Limited (RIL) and bp to build EV infrastructure and services across its network. In stages, Jio-bp will deploy DC fast chargers throughout the nation’s workshops and major Citroen dealership network. These chargers will also be open to the entire universe of EV car customers to help boost EV adoption among consumers.
In Oct 2023, MoU was signed by the CHAdeMO Association and the Bharat Charge Alliance (BCA) to collaborate on the implementation of international and Indian two- and three-wheeler charging standards in India. The BCA, founded in India, is a group of companies that develops and promotes the use of light electric vehicles (LEVs) in society. They produce both two- and three-wheel models. This MoU was signed for CHAdeMO Association to disclose its electric two- and three-wheeler charging protocol to the BCA, which in return is to promote the CHAdeMO electric two- and three-wheeler protocol (based on IEC 61851-25) in the Indian market.