Lowering subsidies, speeding up infrastructure growth, and driving private sector investments, a significant price reduction for EV chargers could reshape India’s EV landscape.
In a bid to accelerate the rollout of electric vehicle (EV) infrastructure, the government has significantly reduced benchmark prices for EV chargers. This move aims to lower subsidy expenses while promoting the expansion of public charging stations across India.
The Ministry of Heavy Industries announced a sharp revision to benchmark costs for EV chargers in response to declining equipment prices and intensifying competition among manufacturers. The price reduction is expected to make EV charging more affordable, benefiting both the government and private investors.
Under the revised benchmarks, the cost of a 60kW charger has dropped by 28%, while the price of a 30kW charger has been reduced by 17%. The benchmark price for a 120kW charger has also been lowered by 13%.
These changes are expected to reduce subsidy claims under government schemes such as the PM E-Drive programme, which supports E deployment.
The new benchmarks reflect the evolving maturity of India’s EV charging market, which has benefited from decreasing input costs and heightened competition. For example, the benchmark cost of a 100 kW charger has been reduced to approximately ₹1.3 million, down from ₹1.8 million earlier.
India currently operates approximately 29,200 public charging stations, with the government aiming to increase this number to meet surging demand for EVs. As of FY24, India’s EV penetration had increased to nearly 4.7%, up from just 1.3% in FY22. This growth is driven by falling vehicle prices, supportive government policies, and the expansion of charging infrastructure.
Industry executives say the revised benchmarks will better align government support with market realities and encourage more private sector investment in charging networks.
This price reduction is a significant step toward boosting green mobility and supporting India’s transition to a more sustainable transport system.
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