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Is Adoption of EV Chargers Becoming a New Trend?

Development of a robust charging network has gone hand-in-hand with accelerated EV adoption across the world

by Aishwarya Saxena

Promoted at a mass scale under every government’s offered incentive, the sales of electric vehicles have climbed higher in the recent few years.

EV Charging As the fledgling EV ecosystem matures at a rapid pace, a critical facilitator of EV adoption is ready availability of slow and fast chargers ensuring easy access to efficient and cost- effective charging.

Rohan Rao, Partner, M&A Consulting, KPMG in India says, “Development of a robust charging network has gone hand-in-hand with accelerated EV adoption across the world, and we believe a similar trend is expected to play out in India. With an estimated 50 million EVs on Indian roads by 2030, the potential opportunity for a pure play charging business is enormous.”

In order to get a brief overview of this report, “Electric vehicle charging – the next big opportunity” let’s check out some of the key highlights from the report.

Some key highlights from the report

  • India’s e-mobility journey is on a fast track, with an estimated 45-50 million EVs on road by 2030
  • Investors see players in the EV charging market as promising investment prospects
  • Charging technologies will vary by different vehicle segments. Public and private charging solutions will be deployed to serve different customer segments and use cases
  • 2Ws and 3Ws are best suited for AC slow charging. Battery swapping likely to be the more prevalent model for use cases requiring quick charging turnaround
  • Home/workplace and fleet charging solutions show maximum potential in the short term; shift to take place to public charging as the market matures – Indian market is likely to have a dense network of AC private and public chargers; DC chargers to be restricted to buses and few use cases for 4Ws and LCVs
  • Customer expectations from different charging solutions will vary i.e. expectations from Home/ Workplace Charging are expected to be different from Destination Charging or On the Go Charging which will differ from Fleet Charging
  • Strategic partnerships for real estate and interoperability amongst CPOs/ Service Providers are crucial to strengthen customer proposition

Winning the battle in the charging ecosystem

  • Charger manufacturer – Product customization, design innovation and software integration would serve as key differentiating factors in addition to product and service quality and cost competitiveness
  • CPOs – Location, technology, reliability of power are hygiene factors. Loyalty programs, partnerships, integration with payment gateways etc. will drive stickiness
  • Strategic partnerships and alliances are paramount to seize the opportunity in the burgeoning CPO segment.

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